The world olive oil market in 2021/22 MY

Published 2021년 12월 27일

Tridge summary

The global market for olive oil is experiencing a surge in demand due to its nutritional benefits and environmental friendliness, with production increasing by 114% from 1990/91 to 2021/22. However, dry weather conditions in key producing regions have led to a decrease in production for the 2021/22 season, resulting in a 5-year low in oil reserves. This, coupled with a rise in world consumption, is expected to result in a global supply of 4.2 million tons, a 4-5% decrease from the previous season. Russia is among the top eight importers of olive oil and virgin olive oil, with imports increasing by 9.9% from October 2020 to September 2021.

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

Original content

Despite the fact that olive oil occupies a niche segment among the key vegetable oils in the global market, in recent years its popularity has been gaining momentum under the influence of growing consumer demand. The nutritional value of this product, as well as its environmental friendliness, continues to attract buyers from all over the world and allows top exporters to increase shipments. According to the International Olive Council, olive oil production from 1990/91 MY to 2021/22 MY increased by 114%, and this is not the limit! What is the future of the industry in the near future? Will European manufacturers be able to increase their presence on the world stage amid high competition, and is the weather factor so terrible? About this and not only further in our material. The 2021/22 season for the global olive oil market will be characterized by a slight increase in production, which, however, will be lower than previously expected and will lead to a reduction in oil reserves ...

Source: Oilworld