Bountiful harvest, stable market – olive oil closes a strong year

The olive oil sector has now overcome the crisis: EU production is nearing a new peak and sustainability has come to the fore. Olive oil is not only "liquid gold" but also a carbon-binding ally in climate-conscious agriculture. In recent years, olive oil production suffered a dramatic decline due to drought, extreme heat waves, and pathogens—including the dreaded Xylella fastidiosa bacterium. However, the 2024 season brought a turnaround. Olive groves in Spain, Italy, and Greece produced a record harvest thanks to favorable weather and improved plant protection technologies. Estimates suggest that global olive oil production has risen above 2.5 million tons, which is 20% higher than the previous year. This not only strengthens the economies of the producing countries but also moderates prices on international markets, which had previously reached historical highs. The success of this year's harvest was greatly influenced by a more balanced distribution of rainfall and milder ...