La European Commission provides that the production of olive oil in theEuropean Union will 1.413.000 tons in this 2023/24 campaign compared to 1.391.900 tons of the previous season, with an 1,51% increase. In the case of the Spain, main continental producer, Brussels estimates its production at 766.400 tonnes (+15,1%).
By country, Commission data, a December 2023, place the production ofItaly at 288.900 tonnes (+19,9%), that of Greece at 195.000 tonnes. (-43,4%); and that of Portugal at 150.000 t. (+19%). For what concern business, the Commission expects that the European exports will decrease by 10,1%, to 1.328.300 tonnes, of which 537.500 tonnes. They will go to third countries (-10,4%) and 790.800 tonnes will be intra-community (-9,9%).
In this case, Spanish sales abroad will be 688.000 tons (-4,4%), of which 400.000 tonnes will be intra-community (-0,86%) and 288.000 tonnes will go to third countries (-8,9%).
From them, Community imports of olive oil will amount to 950.800 tonnes, 9,8% less than in 2022/23, of which 790.800 tonnes. They will come from Member States (-9,98%) and 160.000 t. (-9%) from third countries.
As regards the olive oil consumption in the EU, the Commission expects that it will stand at 1.170.100 tonnes, 5% less than the 2022/23 season, Of which 350.000 tons correspond to Spain (compared to 359.800 tonnes in the previous campaign).
Likewise, the community executive places the final stock of the campaign at 271.300 tonnes (-33,1%), of which 189.200 tons. will correspond to Spain (-23,7%).
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