Markets Economy | Olive oil | Greek and World Economy

Revision of olive oil balance

Vassilis Zampounis
Four months after the initial estimations of (First estimations for the 2018/19 production) we revisit this issue with the new scenery of the biggest countries in the Mediterranean, which cover around 85% of global production.

We don’t really notice great differences overall besides Greece, where the diverce climatic conditions (climatic changes) show their teeth. As a result, we are going to have to lower the bar of the anticipated crop quantity for 2018/19. Meanwhile the messages confirm that after last year’s 2017/18 excellent greek qualities, this year the problems are many (high acidity, poor organoleptic) either due to olive fruit fly, either/ or due to mycological diseases (gloeosporium).

Therefore, the new map of the projected olive oil production is the following:

  November 24th, 2018 July 24th, 2018 Modification
Spain 1.650.000 1.550.000 +100.000
Greece 180.000 240.000 -60.000
Italy 190.000 190.000 zero
Turkey 200.000 220.000 -20.000
Tunisia 160.000 160.000 zero
Morocco 110.000 110.000 zero
Syria 120.000 100.000 +20.000
Portugal 105.000 90.000 +15.000
Total 2.715.000 2.660.000 +55.000

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