Italy has become the world’s leading consumer of olive oil
Olive Oil
Italy
Market & Price Trends
Published Mar 19, 2024
Tridge summary
Despite a record low olive harvest and rising energy prices doubling the cost of olive oil, Italy remains the world's largest consumer with an intake of 410 thousand tons, according to data from various international bodies. The U.S. is showing an increasing demand for olive oil, becoming the second largest consumer in 2023, pushing Spain to third place.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
At the end of last year Italy became the largest consumer of olive oil in the world with an indicator of 410 thousand tons. Such data follows from the monitoring of the European Commission, the U.S. Department of Agriculture and the International Olive Council. At the same time, according to a study conducted by the Pieppoli Institute, the cost of olive oil has more than doubled in recent months against the background of a record low olive harvest, rising prices of energy and other resources, as well as due to increased demand in the global market. Experts have estimated that every third resident of Italy has already reduced the use of this product, and almost half of those surveyed (45%) have switched to cheaper oils. However, the country still remains the world leader in olive oil consumption. In contrast, demand for the product is growing in the US. In 2023, the country ...
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