International production of olive oil in the 2015-2016 campaign will be around 2.6 million tonnes, according to the production capacity by the GEA Group. This production forecast is one of the most complete and comprehensive taking place worldwide, as it has data from 500 institutions from 47 countries on five continents currently producing olive oil.
In Spain, the largest producer in the world, production could reach, if currently unfavorable weather conditions allow, the 1.26 million tons. This is a significant increase in production on Spanish soil after low harvest in the 14/15 campaign. Italy would stand on the second step of the ranking of production, with 330,000 tonnes, which means a growth of 50 percent from the previous season. Here lies Greece, which could undermine the contribution at around 17 percent, staying at 240,000 tons.
For its part, Turkey would reduce its production to stay at 165,000 tons. Turning now to African countries, the harvest will also be lower in Tunisia, where the capacity of the GEA Group estimates a production of 145,000 tons of olive oil. It is significant that the five main producing countries (Spain, Italy, Greece, Tunisia and Turkey) have taken 77 percent of world production in the last ten campaigns, which shows that the remaining 42 countries offer less than 25 percent of the total quantity produced.
In fact, in just ten countries would get more than 96 percent of global production, with the remaining 37 countries do not come together to generate or 4 percent of world production of olive oil. Curiously, Malta, Colombia and Armenia would be the countries with lower production of olive oil, as none of them would reach the hundred tons next season.
President of GEA Westfalia Separator Ibérica, Juan Vilar Hernández, makes clear that “climatic circumstances “not being the most appropriate and beneficial for growing, domestic consumption and the resulting link these quantities together with the outputs the international market, they will determine the evolution and trend of prices in origin “.
However, it is important to note that these data must be taken with all the caution required by the predictive calculations, since the figures can vary depending on the circumstances of the coming months.
Source: GEA Group