The exports of olive oil at March 31st exceeded the average of past campaigns by 22%

With a total of 504,600 t, olive oil exports accumulated at 31st March stood above the previous season and the average of the last seasons by 36% and 22%, respectively, maintaining its growing trend, as evidenced by the last meeting held in the Ministry of Agriculture and Fisheries, Food and Environment (MAPAMA) by the sectoral table of olive oil and table olives to analyze the evolution of the marketing year 2016/17.

In particular, the 99,000 t exported during the month of March exceeded by an average of 40% for this month and is one of the highest figures of the last campaigns

As for olive production registered until the end of March 2017, it has increased by 11% compared to the average of the previous four campaigns, amounting to a total of 1,272,400 t. Thus, with a total of 36,400 t, olive oil production in March has been one of the highest of the last campaigns in this month.

With regard to quoted prices, the market has been stable in recent weeks, with some fluctuations and a moderate upward trend. At the international level, it is also shown stability in the quotations, standing above those of our country for the oils of higher quality.

The apparent domestic market has reached 257,500 tonnes, a decrease of 9% over the previous season and 3% above the average of the previous four marketing years. The monthly average of departures in this semester has been of 42,920 tons.

Total marketing, including the apparent domestic market and exports, has reached 762,100 tonnes, an increase of 16.5% over the previous season and 12% over the average of the last four. The average monthly output of this period was 127,020 tonnes.

The total volume of stocks is 893,400 tons, decreasing by 6% compared to the average of the previous four seasons. In the mills, 665,400 tonnes are stored, representing a decrease of 5% compared to the average of the previous four, in the Foundation Patrimonio Comunal Olivarero (FPCO) 31,500 tonnes, while in the bottlers, refineries and operators there are another 196,500 tonnes tons.

Exports up

On the other hand, the Ministry has published the foreign trade bulletin of olive oil with data corresponding to the first five months of the campaign (Sept-16 / Feb-17). This shows the positive balance of exports in this period, with significant increases in both volume and value. Particularly noteworthy are the increases in volumes exported to Italy (+ 69%) and Portugal (+ 49%) in the EU, compared to the 2015/16 marketing year.

In the extra-community markets, the increases to Brazil (+ 112%), Australia (+ 49%) and Japan (+ 24%) stand out. The North American market maintained a remarkable increase of 29% with respect to the average, although it has decreased slightly in relation to the previous campaign, that was record

The notable increase in exports coupled with a decline in imports has led to an increase in the coverage rate by 34% compared to the average, at 1,116%.

Regarding table olives, the external market is balanced, and the domestic market is below the 2015/16 season, although there has been a positive trend in recent months.

The different bulletins, as well as the data provided by AICA as of March 31st, 2017 can be consulted in the section on agricultural and livestock markets of the Department website.

Table olive

The 2016/17 table olive season began with stocks at 1st September of 341,200 tonnes, up 17% on those of the previous season. Production was 595,090 tonnes, which represents a decrease of 1% compared to last season.

A total of 280,350 tonnes (183,040 tonnes for export and 97,300 tonnes for the domestic market) have been sold in total (Internal Market + Exports). Overall marketing has decreased by 3% over the previous marketing year

Stocks as of March 31st are quantified at 608,220 tonnes, which leads to a 5% increase over last season.

Source: MAPAMA

TAMBIÉN TE PUEDE INTERESAR:

➡️Olive oil continues to grow in export and production, ending February with 153,300 t.

➡️The high oleic production in January points to a delay of the campaign