Estimated global olive oil production of 2015/2016

We are in August and the new olive harvest will begin in two months so we would like to share with you the latest news of the 2015/2016 campaign. According to the research and report of GEA Group, the estimated global olive oil production will be around 2.6 million tons. The GEA Group has obtained this forecast by calculating the current data of 500 institutions from 47 olive oil producer countries. We can confirm that it is one of the most reliable estimations so far, however, it is important to know that the figures still can vary depending on the circumstances of the coming months. Estimated world olive oil productionSpain has always been the biggest olive oil producer, the historical leader, and his year is no exception either. Even though the weather conditions are not quite favorable, we are expecting a total production of 1,260,000 tons during the next season, which would be almost the half of the total global production. This figure also means a significant increase of the Spanish olive oil production compared with the last harvest. Italy is the second biggest producer with an estimated production of 300,000 tons, which means just a 26.19 % of the Spanish figures. Another olive oil producer country, Greece, is supposed to expect a production of 240,000 tons for the campaign 2015/2016. Turkey and Tunisia are facing two different situations; according to GEA report, the harvest in Turkey could be reduced to 165,000 tons meanwhile the production of Tunisia is expected to reach 145,000 tons. Another conclusion we can obtain from the report is that the five biggest olive oil producer countries (Spain, Italy, Greece, Turkey and Tunisia) contribute approximately a 77% of the world total production in the last ten campaigns and the remaining 47 countries produce less than 25% of the total quantity. According to these figures, the Spanish harvest will be again almost the 50 % of the world olive oil production and the key for the price stability in the market.  

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