Global Olive Oil Output to Exceed the Five-Year Average in 2024/25

The International Olive Council forecasts that global olive oil production will climb to 3.38 million MT in the 2024/25 crop year, a 32 percent increase compared to last year and 13 percent above the five-year average, reports the Olive Oil Times on January 09.
Spain, Tunisia and Turkey were the driving forces behind this increase, with olive oil production expected to rise by 51 percent to 1.3 million tons in Spain, 55 percent to 340,000 tons in Tunisia and 109 percent to a record-high 450,000 tons in Turkey compared to the previous year.  Producers in Spain attributed the improved yield, which exceeded the five-year average by nearly 17 percent, to good crop conditions, including moderate spring temperatures and a wet winter that recharged previously parched rivers and aquifers. 
Timely rain is anticipated to spur Tunisian producers onto their bumper crop, which is estimated to be the largest since the record-high 440,000 tons in 2019/20 and tied for the second-highest of all time.  On the northeastern coast of the Mediterranean, Turkish producers said favorable growing conditions and the absence of olive pests in most producing regions were responsible for the harvest rebound.