Italy: Olive oil, export: positive trade balance after 4 years

Published Nov 25, 2024

Tridge summary

Italian olive oil exports have reached over 2 billion euros from January to August 2024, marking a 59% increase from the previous year and returning a positive trade balance after four years. This growth is attributed to both increased sales volume and price lists, with non-European markets, including the USA, Japan, and Canada, showing significant growth. Extra virgin olive oil makes up approximately 85% of these exports, resulting in a trade surplus of nearly 107 million euros. The olive tree, grown on over 11 million hectares worldwide, is known for its adaptability to climate change and eco-sustainability. The Olive Experience event at Veronafiere in March will focus on the entire Italian olive oil production chain, from production to consumption.

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

Original content

The trade balance of Made in Italy oil is back in positive territory. According to the latest Istat data processed by Sol2Expo on the occasion of World Olive Day (which is celebrated tomorrow, November 26), between January and August 2024 Italian olive oils recorded sales abroad for over 2 billion euros, thus achieving a growth in value of 59% over the same period in 2023. A leap, also driven by the increase in price lists, which has brought the export balance back into positive territory after 4 years (at +5.2 million euros) and which represents good news for an Italian sector struggling with two consecutive particularly light olive oil campaigns. Net of inflation, Sol2Expo's analysis also shows a growth of 5.4% on the volume front, driven by non-European markets (+9.6% the volume result for the first 8 months of 2024) – in particular the USA (+9.6%), Japan (+6.1%) and Canada (+12.9%) – but also by Germany, the second Italian trading partner (at +17.9%). Acting as ambassador is ...

Source: Agricolae