Olive oil exports from the EU are on the rise with 26%

Olive oil exports from the EU are on the rise and have reached 820 KMT in the period from Oct 2019 to July 2020, compared to 647,6 KMT in the previous 2018/19 season.
While the exports increase the value of the product has fallen driven by EU's processing needs and re-exporting needs. Re-exporting needs come from the US import tariffs regulations towards Spanish olive oil mainly.
On the other hand, Spain is expected to reach a production output of 1.55 million tons, Italy, and Greece are estimated at 290 KMT and 280 KMT, while Portugal is expected to reach 100 KMT.
The main export destinations for the EU olive oil are Brazil, the UK, the USA, Japan, and China.