Olive oil production drops in Italy; more information and promotion to save the national supply chain

Published 2024년 11월 26일

Tridge summary

Italy is experiencing a significant decrease in olive oil production, expected to be down by 32% in 2024, while global production is projected to increase by 30% in the Mediterranean basin and 12% on average over the past five years. As a result, Italy will rank as the fifth-largest producer globally. This reduction in production is attributed to both the alternation of production and climate change. Additionally, Italian producers are dealing with one of the lowest oil yields on record. Confagricoltura, the Italian confederation for agricultural, forestry, and agro-food businesses, has called for the protection of the supply chain and the maintenance of a fair market price. They also emphasize the need for quality control and consumer education to preserve the reputation and value of Italian extra virgin olive oil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rome - Oil production is increasing, but not in Italy: our country, according to the latest campaign estimates, is losing a third of the quantities compared to last year and will close 2024 with approximately 224 thousand tons of olive oil (-32%). In the Mediterranean basin, global production will be 30% higher and 12% higher than the average of the last five years. Due to the alternation of production, but also to climate change, our country will be the fifth largest producer in the world for the next campaign after Spain, Turkey, Tunisia and Greece. In addition to a lower overall production of olives, this year Italian producers, except in some areas, have had to pay for one of the lowest oil yields ever recorded. Confagricoltura's appeal on the occasion of World Olive Day is to safeguard the fair value of the supply chain, which still sees high production costs and in particular pressing costs, but also to avoid speculation and maintain the minimum price at an adequate level. ...

Source: Agricolae