According to a new report published by the European Commission (EC), exports of EU olive oil should reach a record number in 2020. This means an 11% growth in exports (or 625.000 tons).
The reasons behind this evolution? The increase of world demand for olive oil and less availability of olive oil from non-EU countries.
However, the EC warns, the lack of rain in several countries – including Portugal and Spain – could negatively impact production.
In the 2018/2019 season, olive oil production in Portugal, Italy and Greece dropped, but Spain recovered well, which led to a 3% increase in EU olive oil production.