Italian 2022 Olive Oil Crop Expected to Increase 20-30% YoY

The 2022 Italian olive crop was initially threatened by spring and summer drought but was saved by rains in August. One month before the harvest, an increase in olive production of 20-30% YoY is estimated thanks to the absence of the olive fruit fly. The quality is expected to be excellent thanks to the high temperatures which favoured the presence of polyphenols which increase the organoleptic quality of the extra virgin olive oil.

Producers are worried about the high cost of the electricity in 2022 necessary to operate the oil mills which will run continuously from October for a month and a half. In the last 15 years, until 2021, processing costs were about EUR 25/MT. This year, due to high energy costs, an increase of 10% in production costs is estimated, which will raise the final market prices of olives and olive oil.