IOC Market Commentary

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NEWSLETTER No 46 – January 2011 MARKET COMMENTARY CROP YEAR 2010/11 •

Export 1/ movements in the top three EU producers: olive oil and olive-pomace oil

At the start of the 2010/11 season Spain saw its exports go up in October and November 2010. In volume terms, exports came to 165 875.39 t, representing 49% more than in the same period of the previous crop year. Spanish exports to countries inside the EU totalled 120 121.01 t. This equated with +48% growth, generated mainly by exports to the following countries, listed by order of volume: Italy, Portugal, France, United Kingdom and Germany. Exports by Spain to non-EU countries came to 45 754.38 t, showing an increase of +52%. The most significant shares in this increase were held by China, Brazil, Russia and South Korea. Italian exports totalled 32 393.1 t in October 2010. This translates into a 13% rise on the same period the season before. Exports to countries inside the EU recorded a 32.5% increase, going up to 20 679.5 t. The bulk of this increase came from exports to the United States, Canada, Japan, China and Australia, in that order. In contrast, at 11 713.6 t, Italian exports outside the EU were down by 9.5%. The crop year in Greece opened with 7 696.6 t of exports, representing a 9% increase on the same period of the previous season. Greek exports to non-EU countries came to 1 559.1 t, up by 8%. The countries behind this increase were the United States, China, Canada and Russia. Intra-EU exports totalled 6 137.5 t, again showing an increase, this time of +9.2%, chiefly to Italy, Poland and the United Kingdom.

% Spanish exports by type of oil (October 2009)

% Italian exports by type of oil (October 2009)

% Spanish exports by type of oil (October 2010)

% Italian exports by type of oil (October 2010)

The breakdown of Italian exports in October 2010 was the same as a year ago. The same analysis for Spain reveals a bigger share for virgin olive oil (+4 points) and a smaller share for olive pomace oil (-3 points). The breakdown for Greece shows an increase in the shares of both virgin (+2 points) and olive pomace oil (+2 points), with the accompanying decrease in the share of olive oil.

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Source: EUROSTAT. At the time of publishing this newsletter, data were only available for October 2010. The November data for Spain have been supplied by the Ministry of Industry, Tourism and Trade.

Source: International Olive Council

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