The European Commission has launched the Olive Oil and Table Olives Market Observatory in Brussels, to improve transparency and information sharing across the sector. The Observatory will gather and analyze market data, offering a platform for industry stakeholders to exchange insights. This initiative mirrors similar efforts in other agricultural sectors, such as dairy and fruit, and is designed to provide regular updates to enhance market awareness.
The European Union, the world’s largest producer and consumer of olive oil, has seen production drop 24% below the five-year average due to extreme weather events. For the 2023/2024 season, output reached 1.5 million tonnes, a slight recovery from the previous year, but stocks remain tight and prices are high.
Looking ahead to 2024/2025, production may return to more typical levels, though prices are expected to stay elevated. Under the Common Agricultural Policy (CAP), new support measures are set to encourage sustainable practices and bolster resilience, particularly for traditional olive groves, most vulnerable to climate and market fluctuations.