According to the International Olive Oil Council (IOC), world olive oil production for 2015 to 2016 is shaping up to be better than the previous season, but less than the 2013/2014 season.
World olive oil production for 2015/2016, according to the latest estimates published by the IOC, will exceed 2,500,000 tons, compared to 2,287,000 tons for the 2014/2015 season and 3,244,000 tons for the 2013/2014 season.
During the first nine months of the 2014/15 season, the olive oil trade has shown an increase of: 12% in Japan, increasing sharply since March 2015. The US and China remain stable. However, olive oil imports decrease by 16% in Australia, 12% in Canada, 4% Brazil, and 26% in Russia.
The first eight months of the current season have shown that the Intra-European Union imports increased by 6% and Extra-European Union imports increased by 253% over the same period in the previous season. In the 2014/2015 season, Spain and Italy experienced a sharp reduction in their productions. Consequently, both countries have increased their imports from Tunisia (+1,270% in the case of Spain and +326% in Italy) compared with the same period in the previous season.
Every year the IOC updates global statistics on production, imports, exports and consumption of olive oil, and refers to the “olive season/crop yeaer” as the twelve-month period from October 1st to September 30th of the following year.
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