Olive exports continue to grow, with 15% more than in 2016
Exports of olive oil maintain their growth trend, as evidenced by the market data of olive oil for July, recently published by MAPAMA and that reflectes the good commercial rite that stems from this fact. Specifically, the total marketing in the tenth month of this campaign is 1,205,300 tonnes, 4.4% higher than the average of the last four seasons and 5% over the previous season.
Overall, exports continue to show good results, as they are 16 and 15 percent above last season and the average of the last four, respectively
Currently, the rate of departures is approaching the average, after a few months in which it had surpassed widely.
MAPAMA has also observed that apparent domestic consumption is below last season and the average of the previous four. For the whole, it represents a cumulative fall of 13%.
As has happened throughout the campaign, the national and international prices are high, although there are slight decreases since the month of May
The cumulative drop since May for all categories is 5.9%. Meanwhile, international market behavior also shows a downward trend, with higher prices for virgin oils in Italy compared to those of our country.
As regards table olives, their marketing in the last month of the year has decreased by 1% over the previous season, with a total volume of 460,980 tonnes
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Olive oil market data
Oil production in this campaign amounted to 1,283,600 tonnes. This figure represents 8.5% less than that obtained in the previous season and 10.5% higher than the average of the last four
The ground olive was 6,493,674 tons, with an average yield of 19.73%, 0.8 points below that of the previous season. Imports, with provisional data for the month of July are estimated at 82,800 tonnes.
Exports, with data still tentative for July, are estimated at 826,900 tonnes, up 16% on the previous season and 15% on the average for the last four seasons. The average monthly departures in this period was 82,690 tons.
The apparent domestic market has reached 378,400 tonnes, down 13% from last season and 14% below the average for the previous four marketing years. The monthly average of departures in these ten months has been of 37,840 tons.
Total marketing, including the apparent domestic market and exports, has reached up to 1,205,300 tonnes, an increase of 5% over the previous season and 4% over the average of the last four. The average monthly output of this period was 120,530 tonnes.
The total stock volume is 492,100 tonnes, which has decreased by 6% compared to the average of the previous four seasons. In the oil mills, 317,000 tons are stored, representing a decrease of 7% compared to the average of the previous four; in the packers, refineries and operators there are another 164,900 tons; and 10,200 tonnes in the Common Olive Heritage.
Olive Table Details
The 2016/17 table olive season began with stocks at 1st September of 341,450 tonnes, up 17% on those of the previous season
Production was 596,110 tonnes, which represents a decrease of 1% compared to last season.
460,980 tonnes have been traded, 305,160 tonnes for export and 155,820 tonnes for the domestic market. Overall marketing has decreased by 1% over the previous season.
Stocks as of July 31 are quantified at 402,290 tonnes, which leads to a 5% increase over last season.
Source: MAPAMA
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