Portugal foresees a 25% increase in its olive production this campaign

Published 2024년 2월 7일

Tridge summary

Despite temperature increases, Portugal's olive harvest is projected to rise by 25% due to higher productivity in traditional and new intensive olive groves. However, a global decline in olive oil production, particularly in Spain, has resulted in a 91% surge in bulk oil prices in Portugal. From January to November 2023, olive oil exports reached 863.5 million euros, a 6.1% increase from the previous year, largely due to these higher prices. The majority of these exports, about 90%, were to Spain and Brazil.

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

Original content

The olive harvest in Portugal is considered normal, although affected by the increase in temperature during flowering and fruit setting. An increase of 25% is expected compared to the previous year, due to the increase in average productivity in traditional olive groves and the entry into production of new intensive olive groves. The decline in global olive oil production, mainly in Spain, the largest producer, has impacted bulk oil prices in Portugal, with an increase of 91% at the beginning of December. Data provided by the National Institute of Statistics of this country, published in the last Bulletin Mensal da Agricultura e Pescas corresponding to the month of January. Bulk olive oil prices in Portugal show a continued increase, with variations of 84.6% in November and 91% in December, which represents an increase of 4.1%. Export market Olive oil exports totaled 863.5 million euros from January to November 2023, reflecting a growth of 6.1% compared to the previous year, ...

Source: Oleorevista