Global production of olive oil has decreased a 19,68% as European Commission has just released in its latest report about the 2022/23 campaign.

Once again this year, Spain will be the market leader with a total harvest volume of 780.000 tonnes. Italy will reach this year 235.000 tonnes, which means only 30 % of the total Spanish harvest. Italian olive oil companies usually buy olive oil in bulk to pack in Italy their brands. 

Greece will become this year in the 2nd position in the European Union with a total volume of 350.000 tonnes, which means less than 50% of the Spanish volume.

Portugal, our neighbor country, will reach this year 125.000 Tonnes as the 4th biggest producer in Europe. 

Out of the European Union, Turkey, Tunisia and Morocco will reach 380.000, 180.000 and 156.000 Tonnes respectively.

Spain will lead the market once a year more, not only in production but also in commercialization. Instead of a 52% of reduction in the Spanish harvest, it will represent almost 30 % of the world production this campaign and will assure price stability to develop the market during this year.