World record for olive oil production

Historical Record in Production, Exports, and Consumption

The global olive oil sector is experiencing a moment of unprecedented expansion, having achieved a record production that exceeds 3.5 million tonnes. This achievement, added to a notable reactivation of consumption and a historical record in exports, reaffirms olive oil as a commodity of global reach, despite commercial barriers such as tariffs.

This encouraging panorama was the main topic of the 122nd plenary session of the International Olive Council (IOC), held in Córdoba (Spain) in the framework of World Olive Day. Demand at the international level is growing and the large production has been traded at prices comparable to the average of the last six years, which underscores the loyalty of its customers. Those who try olive oils, especially extra virgin, become very loyal consumers.

Global Growth and Determining Factors

The increase in consumption has not been limited to the traditional Mediterranean area, but has grown remarkably in unconventional zones, including the United States, Canada, Brazil, Japan, Australia, and China. This expansion has intensified since the pandemic, motivated by a greater awareness of health, healthy lifestyles, and sustainability, elements intrinsic to olive cultivation.

Spain is consolidating its position as the sector’s main power, contributing 39% of global olive oil production and 67% of European production. With current global production around 3.5 million tonnes, the goal is to reach 4 million tonnes globally this decade. Spanish oil is distributed in more than 150 markets. Additionally, the European Union–Mercosur agreement represents an excellent opportunity to expand the presence of olive oil in a market of 268 million people.

Cultivation Data and Main Producers

Currently, 67 countries dedicate 11.7 million hectares to olive cultivation. Spain leads globally both in olive grove surface area (2.7 million hectares) and in average annual production (1.5 million tonnes). It is followed by countries such as Tunisia (1.8 million ha) and Italy (1.1 million ha).

Regarding production, other relevant players are Italy, Tunisia, Greece, and Turkey, with volumes ranging between 220,000 and 400,000 tonnes. Portugal stands out for its high productivity and quality, reaching nearly 220,000 tonnes, with 98% of its output classified as extra virgin or virgin.

The oil reaches more than 190 countries. In the list of main consumers, Italy tops the ranking, followed this year 2024 unusually by the United States, and Spain in third place. Regarding exports, Spain remains in the lead, followed by Italy and Portugal.

The olive tree has demonstrated its adaptability, with crops in places as unique as the island of Saint Helena (Australia), the volcanic slopes of Maui island in Hawaii, or the Japanese island of Shodoshima, which emphasizes its true global scope.