Production

Worldwide olive oil production is limited, for soil and climate reasons, to two areas of the globe between the 30th and 45th parallels in the northern and southern hemispheres.
Currently, around 95% of the world's olive oil area is concentrated in the Mediterranean Basin, and the European Union producer countries (Spain, Italy, France, Greece and Portugal) are responsible for around 70% of world production. However, due to the significant reduction in production in Spain in the 2024/2025 campaign, it is estimated that in 2024/2025 EU olive oil will only account for 58% of the world total. The other main producing countries are Tunisia (10%), Turkey (13%), Syria (3.1%), Morocco (2.6%) and Algeria (2.5%).

World Olive Oil Production

(1000 ton)
3 304
18/19
3 269
19/20
3 019
20/21
3 423
21/22
2 760
22/23
2 564
23/24*
3 375
24/25**
Source: COI
* Provisional Figures
** Forecast
Based on an analysis of world production over the last seven marketing years, the figures produced between the 2017/2018 and 2021/2022 marketing years are stable. However, there was a sharp drop in the 2022/2023 and 2023/2024 marketing years, with production expected to recover in 2024/2025.
In the European Union, olive oil production has grown significantly in recent years, with Spain currently occupying 1st place in the world ranking of producing countries.

Olive oil production in the European Union

(1000 ton)
Campain 18/19 19/20 20/21 21/22 22/23 23/24* 24/25**
Spain 1 790 1 125 1 389 1 493 665 854 1 289
Greece 185 275 275 232 345 175 250
Italy 174 367 274 329 241 329 224
Portugal 100 141 100 206 126 161 195
Others 15 13 14 13 14 13 14
Source: COI
* Provisional Figures
** Forecast
In Portugal, there has been a recovery in production over the last few decades, after a sharp decline, especially from the 60s until the end of the 80s. Here, we went from production of around 90,000 tons (in the 50s) to an average of around 35,000 tons by the end of the 80s and beginning of the 90s.
Also noteworthy is the result of the 2021/2022 campaign, which saw the highest production since statistical data has existed.

Olive oil production in Portugal

(ton)
100
18/19
141
19/20
100
20/21
206
21/22
126
22/23*
161
23/24**
195
24/25**
Source: COI
* Provisional Figures
** Forecast

Consumption

With regard to consumption, over the last 15 years there has been an average worldwide increase of around 2.3%. This increase in consumption worldwide reflects the effect of the dissemination of scientific research results on the health benefits of olive oil, as well as the successive promotional campaigns carried out by both the European Union and the International Olive Oil Council.
Currently, olive oil consumption in the European Union accounts for almost half of world consumption - 43%. This sharp increase in consumption in recent years has occurred in countries that traditionally were not consumers, such as the United States of America. In fact, consumption in the United States has been increasing exponentially, reaching between 389,000 and 412,000 tons per year in recent years, making this country the second largest consumer in the world.

World Olive Oil Consumption

(1000 ton)
3 093
18/19
3 269
19/20
3 176
20/21
3 329
21/22
2 855
22/23
2 780
23/24*
3 065
24/25**
Source: COI
* Provisional Figures
** Forecast
With regard to olive oil consumption in Portugal, there has been a clear recovery compared to the early 1990s, when per capita consumption stood at 3.3 kg, and it is now close to 7 kg per capita.
This increase in consumption is certainly not unrelated to the “rediscovery” of olive oil as a natural, healthy product with numerous benefits for human health.

Olive oil consumption in Portugal

(1000 ton)
54
18/19
72
19/20
62
20/21
59
21/22
39
22/23
61
23/24*
72
24/25**
Source: COI
* Provisional Figures
** Forecast

Exports

In terms of international trade, which currently stands at over 1 million tons since 2019/20, the main exporting countries are naturally the main producers.
On the average of the last three marketing years, it is estimated that the European Union, with around 55.3%, and Tunisia, with around 24%, are the main exporters. Among the main importers are the countries considered to be the new consumers of olive oil, which together are estimated to be responsible (2024/25) for around 56% of world imports: the United States (33%), Brazil (7.9%), Japan (4.8%), Canada (4.5%), Saudi Arabia (3.1%) and Australia (2.7%).
Portugal is traditionally an export-oriented country. Among the destination markets for Portuguese exports, the Spanish market has stood out in recent years, both in terms of value and quantity. Exports to the Spanish market are essentially bulk exports of olive oil. The Brazilian market, on the other hand, absorbs around 20% of the value and 27% of the overall volume, making olive oil the most exported Portuguese product to that country. Olive oil exports to Brazil are essentially exports of packaged olive oil, with a higher added value.

Portuguese Olive Oil Exports*

(ton)
159 687
2018
175 884
2019
201 252
2020
216 265
2021
240 357
2022
176 999
2023
235 761
2024
Source: INE
* Virgin Olive Oil + Olive Oil