The value of Spanish olive oil exports fell in 2022/2023 despite the rise in price

Published 2023년 12월 4일

Tridge summary

The value of Spanish olive oil exports in the 2022/23 campaign decreased by 4% compared to the previous campaign due to a drop in exported volume. The average export price increased by 45.2% during the campaign. Shipments to major destinations such as Italy, the United States, Portugal, and China all decreased significantly. In the table olive market, Spanish exports also decreased in volume but increased in value due to higher average prices. The United States remained the top destination for Spanish table olives despite tariffs imposed on certain categories. The Ministry's report showed a 14% drop in table olive exports to the US in the first eight months of 2023 compared to the same period in 2017.

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

Original content

The value of Spanish olive oil exports stood at 3,814 million euros in the 2022/23 campaign, which represents a drop of 4% compared to the previous campaign, according to data published by the Ministry of Agriculture. This decrease was due to the sharp decrease in exported volume (-34%; 719,808 tons), due to the short production obtained, which was not fully compensated by the significant increase in the average export price. This stood at an average of 530 euros/100 kilos, with an increase of 45.2% compared to the previous campaign (365 euros/100 kilos on average). The export price was rising month by month throughout the last campaign. In the first month of it, in October 2022, it was 421 euros/100 kilos while, in September 2023, the last month of the campaign, it reached 681 euros. Considering the destinations, decreases in shipments were recorded in all of them, especially pronounced in some of them, such as Italy, where they fell by 52%, to 158,892 tons, a figure that ...

Source: Agropopular