The value of Spanish olive oil exports exceeded €6 billion in 2023/24

The value of Spanish olive oil exports exceeded 6 billion euros in the 2023/24 campaign, with an increase of 54% compared to the previous campaign, despite the fact that the volume exported remained well below the average of recent years, according to a report by the Ministry of Agriculture. For the second consecutive campaign, production was short in Spain and, with it, so were sales abroad. Although oil export prices already registered a significant rise in the 2022/23 campaign, the increase accelerated in 2023/24. The average was just over 8 euros per kilo, which represents an increase of 57% compared to the previous campaign (average of 5.2 euros/kilo); in March a peak of 8.75 euros/kilo was reached. By destination, Italy remained the leading market for Spanish olive oil, with an increase of 8% compared to the previous campaign and a share of 24% of the total; The United States was again second (+15%), followed by France (-3%) and Portugal (-20%). The report highlights that ...