Although data from the Spanish Food Information and Control Agency (AICA) for olive oil in March reflected a positive performance for both domestic consumption and exports, additional data from the Spanish Customs Agency suggested that the performance was even better.
In fact, exports of Spanish olive oil in March exceeded 159,000 tons, setting a new record. Previously, the best performance was in October of 2019, when the export volume amounted to 155,600 tons.
Spain is an olive oil producing powerhouse with around 2.5 million hectares allocated to olive groves. It makes around half of the world’s total olive oil and around half of that is then exported. In recent years, Spain’s annual production has been around 1.75 million tons. The main destination markets include Italy, France, the US and the UK. Mexico and China also import Spanish olive oil with considerable scope for growth in the future.