More than quality artisans in the mill! When it comes to olive oil, Italians prove to be more masters of alchemy. At least according to what the European Commission technicians predict in the latest analysis of the oil market for the current 2024/2025 campaign which is not far from last October's estimates.
Oil production in the European Union
And yes, because if on the one hand they indicate that Italy will lag behind significantly compared to other European competitors, dropping from second place to fifth place, on the other hand highlight that in our country there will be more oil exported than produced.
It's obviously not alchemy, rather the paradox of an olive oil trade that passes from Spain, Greece or Tunisia (just to name a few) to Italy and, with an Italian brand, it is resold outside national borders.
All things considered, according to the analyses of the European Commission's technicians, In Italy this year 248 thousand tons of oil were produced, slightly less than Greece (which stands at 250 thousand), slightly more than Portugal (still at 195 thousand), exaggeratedly less than Spain which has returned to standard rates with over 1,4 million tons of oil produced. All for a production of European countries of 2,1 million tons with a domestic consumption that will be 1,3 million.
Oil exports
Relating to exports, the technicians in Brussels predict that our country will export 314 thousand tons. How, the analysis soon reveals: Italy is in fact destined to import 475 thousand tons of oil. Part of it will be used for internal consumption, estimated on average at half a million tons, and part, as mentioned, ready for return abroad “branded” with Italian brands and so at a price significantly higher than what the oil industries paid for it initially.
However, it is quite common to see “dancing” accounts in the import-export market. In fact, Spain is expected to export 900 thousand tons, but also import 240 thousand tons. As for Portugal, the volume of exports (over 210 thousand tons) will remain higher than the oil produced.
