Significant reduction in European olive oil production this season; expected Greek yield up by 29%

European cooperatives are reportedly confirming significantly lower olive oil production in Spain and Italy – the world’s number one and two producers, respectively – while production in Greece (number three) is expected to increase both in quantity and quality for the 2022-23 season.

The projection for Greece is an increase in production by 29 percent compared to last year, which yielded 227,000 tons of olive oil.

According to current forecasts by Copa-Cogeca, the total olive oil production in the EU will reach 1.5 billion tons, which translates into a reduction of 35 percent compared to the 2021-22 season. A 30-percent drop in table olive production is forecast for this year as well, EU wide.

The reduction is primarily due to drought and high temperatures in Spain, with even irrigated areas affected, and only rainfall next month viewed as way to salvage the season.

Lower crop yields are also expected in Italy, Portugal and France, with a 30-percent reduction in the former.