Markets Economy | Olive oil

First estimations for the 2018/19 production

Vassilleios Zampounis releases the first estimations for the upcoming production of the 2018/19 crop year. According to trustworthy and objective market experts, the first estimations for the upcoming 2018/19 crop year are the following.

Greece estimates an important decrease compared to 2017/18 (346,000 tones), producing 230,000-250,000 tones in 2018/19. There is also concern about serious problems in quality regarding some areas, if worst expectations are confirmed with regard to olive fly and gloesporium infection.

Spain will show an important increase of 1,450-1,550 thousand tones, compared to 2017/18 (1,251 thousand tones), with an obvious enhanced quality.

Italy is expected to have a decreased production (190,000 tones), mainly due to frosts in the predominantly olive production area of Puglia. During 2017/18 crop year, the production was 240,000 tones, although the official statistics reported a production of 428,900 tones.

In contrast to the 2017/18 record year (280,000 tones), Tunisia will maintain relatively satisfactory levels, reaching 150,000-170,000 tones.

Normal levels will have Portugal reaching 90,000-110,000 tones (its 2017/18 production was 134,800 tones), Morocco with 100,000-120,000 tones (the production in 2017/18 reached 140,000 tones), Syria, which depends on political situation, will produce around
100,000 tones (last year the production was 100,000 tones), whereas Turkey, although will remain in high levels, will show a decrease, predicting 210,000-230,000 tones compared to the 2017/18 production of 263,000 tones.

Cumulatively, the production of the new 2018/19 crop year in the eight Mediterranean countries is expected to be approximately at the same levels as last year. This will result mainly from Spain’s increase, which will balance the decrease of almost all other countries.

Olive Oil production in tones

  2018/19 predictions (average) 2017/18  Variation
Spain 1,500,000 1,251,000 +249,900 (+19,9%)
Greece 240,000 346,000 -106,000 (-44,1%)
Turkey 220,000 263,000 -43,000 (-19,5%)
Italy 190,000 240,000 -50,000 (-26,3%)
Tunisia 160,000 290,000 -130,000 (-81,2%)
Syria 100,000 100,000 +/- ;;;;
Morocco 110,000 140,000 -30,000 (-27,2%)
Portugal 100,000 134,800 -34,800 (-34,8%)
Sum 2,650,000 2,764,800 -114.800 (-4,33%)

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