The outlook for olive oil production and prices in Portugal

Although final numbers are yet to be available, intensive olive oil production estimates that the 2021 campaign will be somewhere around 2.25 million hectolitres, 45% more than the 2019 campaign that has held the record since 1915. Olive oil has good quality, low acidity, and overall good characteristics.

Ribatejo and Alentejo regions are where intensive productions are settled, and they present themselves as the great responsible for this years' production increase. Some plots will present the triple of 2020 production. Northern regions have also increased production, but we should consider that almost all production is still traditional.

In Portugal, the price for extra virgin olive oil is sold at USD 3.76 for a 5L demijohn is per liter if sold in the Northern region and USD 5.52 if sold at Alentejo region when it comes to virgin olive oil, USD 4.12 in Alentejo Region, and USD 5.30 at the West region.

In Spain, the average price provided by Olimerca, extra virgin olive oil on bulk sales, goes for USD 3.70 (minimum price) at Andalusia and Granada regions and USD 3.87 (maximum price) at Sevilla region. Jaen and Extremadura are also set at USD 3.70 but average.