In the EU, it is predicted that the production of olive oil will increase by 30%

Reuters writes about this with reference to data from the European Commission. EU olive oil production is forecast to reach 2 million tonnes in FY 2024/25, up 31% from last season and 9% above the five-year average, the commission said in a report. Sharp production growth in Spain, along with gains in Greece and Portugal, should outweigh a less favorable year in Italy, analysts said. Spanish olive oil production in the 2024-2025 season is expected to increase by 48% to 1.26 million tonnes. Despite favorable spring weather, the coming weeks will be crucial in determining the final harvest level. Experts recalled that drought and heat in the previous two years had reduced the production of olive oil in Spain, doubling its price to record levels and forcing households to buy more sunflower oil. Meanwhile, the European Commission predicts that olive oil consumption will grow by 7% in 2024/2025 after falling by 22% in the past two years. A decrease in prices for these products is also ...