The Ministry of Agriculture and Fisheries, Food and Environment has published the olive oil market bulletin for April with data available at March 31, in which, with 1,229,200 tons, production is slightly above initial estimates.
The internal consumption of olive oil has remained stable compared to the previous month and a greater weight in the whole of the commercialization. The volume of exports has also increased with respect to the previous month, placing marketing on a monthly average of 105,410 tons. The stocks with 993,200 tons, increased by 3% compared to the average of the four previous seasons, with higher volumes in both the packaging and the mills. Regarding the market, in the week of April 16 to 22, the decreases are maintained, with prices below € 3 / kg except for the extra virgin category. The prices of all the categories are below the average and the previous campaigns, with the exception of the 2013/14 campaign.
At the international level, the same behavior is shown with generalized drops in all the places that are placed for the extra virgin category above Spain, with the exception of Greece. In the case of table olives, the total commercialization in the seventh month of the campaign was 288,080 tons, with a slight increase compared to the previous season due to the increase in exports by 1.3% and a volume of 194,030 tons.
Foreign trade olive oil
Likewise, the foreign trade bulletin for olive oil 2017/18 corresponding to the period from October 1, 2017 to February 28, 2018 has been published. The value of the turnover exceeds 1,200 million €, staying above the average, despite the decrease in volume in the first five months of the campaign. This has allowed that maximum export values have been reached for these dates, with increases in China (+ 24%) and South Korea (+ 17%), although a greater fall is observed at the intra-community level, which are mainly reduced in Italy.
Imports have increased compared to the previous season and the average, in greater proportion in value than in volume. The strong increase in the entries from third countries such as Argentina (+ 422%) and Tunisia (+ 92%) and the loss of weight of the Community imports, which grow to a lesser extent, stand out.
Olive Oil Market
Oil production has so far reached 1,229,200 tons. This figure represents a decrease of 4% compared to the previous season and 7% with respect to the average of the last four seasons. The milled olive was 5,940,461 tons, with an average yield of 20.68%, one point higher than last season on the same dates.
Imports, with provisional data for the month of March, are estimated at 91,500 tons. Exports, with still provisional data for the month of March, are estimated at 392,900 tons, with a decrease of 22% compared to the previous season and 15% in relation to the average of the last four seasons. The monthly average of departures in this period was 65,480 tons.The apparent domestic market has reached 239,600 tons, an amount that drops by 10% compared to last season and by 12.5% compared to the average of the previous four seasons. The monthly average of departures of this semester has been of 39,930 tons
Total commercialization has reached 632,500 tons, representing a decrease of 18% compared to the previous season and 14% compared to the average of the last four. The monthly average of departures in this period was 105,410 tons. The total volume of stocks is 993,200 tons, which increases by 3% compared to the average of the previous four seasons. In the oil mills, 750,900 tons are stored, representing an increase of 3% compared to the average of the previous four, in the Olivarero Community Heritage Foundation, 25,400 tons, while in the bottling plants, refineries and operators there are another 216,900 tons.
Table olive market
The 2017/18 campaign for table olives started with stocks on September 1 of 364,610 tons, 7% higher than the previous season. The production of this campaign has been 562,810 tons, which represents a decrease of 6% compared to last season. They have marketed 288,080 tons, 195,230 tons for export and 92,850 tons for the domestic market. The marketing as a whole is practically the same as the previous campaign. The stocks at March 31 are quantified at 624,020 tons, which leads to an increase of 2.5% compared to last season.