The European Commission announced the forecasts for this year's olive oil production and price trends

The Commission announced the first official forecasts for this year's (2024/2025) olive oil production. According to them, this year the total production of olive oil in the EU is increased, by 29%, compared to last year (2023/2024). As far as the member states are concerned, the Commission's forecast for Greek olive oil production is that it will increase by 43% (250,000 tons). The biggest increase in the EU is shown by Spanish olive oil production by 51% (1.2 million tons). We also have a significant increase in Portuguese production by 21% (190,000 tons). On the contrary, Italian production is predicted to be reduced by -32% (224,000 tons). However, this year we also have significant increases in olive oil production in non-EU countries by 26%. A large increase in production is expected for Turkish olive oil, which the Commission estimates will be 104% (450,000 tons, almost double compared to last year). Tunisia's olive oil production also increased by 55% (340,000 tons). ...