The olive oil market

The European Union is the biggest olive oil producer and consumer in the world. Overall it occupies 80% in the olive oil world production and it consumes about the 70% on the total. The major producers are Spain, Italy, Greece, Portugal. In these countries, the olive oil cultivation is very important, both economically and culturally and environmentally, giving that 2.5 million workers in the field of producers.

Among the major olive oil producers outside Europe we have to consider Tunisia, Turkey, Syria, Morocco, while minority shares are attributed to the American continent, to Japan and to Australia. In North America and northern Europe, people still prefer other oils such as vegetable oils, animal fats, etc.., it follows that the olive oil market is pretty inelastic.

The biggest olive oil consumers are Italy - 40.2%, Greece - 14.6%, Spain - 30.3%, France - 5%, United Kingdom - 2.2%, Germany - 2.1% .

There has been a consumption increase in France, Britain and Germany, where between 1996 and 2000 were consumed about 2.5 million tons of olive oil, registering a steady growth in non-producing countries.