2015 will be a year with a difference for Mediterranean producers of olive oil. Compared to 2014, this year’s total production is expected to fall by as much as ⅓ due to bad weather and pests, thus affecting the two largest exporters, Italy and Spain.  Greece is the third largest exporter and contrary to the other two countries, it is expected to raise its production by 130%.

However, since Spain and Italy dominate the market, global production will remain stagnant. Nevertheless, the industry will not suffer, because, although Mediterannean consumers (olive oil’s best customers) decreased their demand, some non-European countries have only recently begun familiarising themselves with the golden-yellow liquid. China is showing an increased demand for olive oil by 150% for 2015, Japan by 75% and the United States by 18%. For the record, Greeks top the list of olive oil consumption worldwide. According to statistics, the average Greek consumes 18 kg annually!

Greek News Agenda: More on Greek olive oil;

See also: Greek Olive Tree Routes & The International Olive Council