16 Figure 1 – Trends in olive oil production and consumption 1990–2026 (in 10³ t) Despite this positive trend, production remains concentrated mainly in the Mediterranean basin, with Spain taking a prominent lead as the world’s leading producer, followed by Italy, Greece, Portugal, Turkey and Tunisia, which play a key role in global supply. This solid structural foundation does not eliminate one of the sector’s main challenges: its high exposure to Source: IOC 2026 The 2021/22 marketing year marked a historic milestone, with 3,414,500 tonnes produced and 3,328,000 tonnes consumed, confirming a trend of sustained growth that transcends the occasional fluctuations of each marketing year. It is worth noting that global olive oil consumption stands at around 2% of total vegetable oil consumption, meaning there is scope for further growth. From a historical perspective, this progress has been accompanied by a profound structural transformation of olive cultivation. At the beginning in the 1980s the global area under olive climatic factors. The adverse conditions recorded recently have led to a significant contraction in world production, which fell from 3.41 million tonnes in 2021/22 to 2.76 million in 2022/23, representing a drop of around 22 per cent. This reduction immediately altered the market balance and triggered significant price pressures. It is worth noting that there had never before been a decline in global olive oil production over two consecutive marketing years, as observed in 2022/23 and 2023/24. cultivation stood at around 7.5 million hectares, mostly rainfed and concentrated in Mediterranean countries. Today, it stands at nearly 11.5 million hectares, spread across five continents. This expansion … production continues to be concentrated mainly in the Mediterranean basin, with Spain taking a clear lead as the world’s leading producer, followed by Italy, Greece, Portugal, Turkey and Tunisia… At the same time, global consumption has not evolved uniformly either. On the one hand, as a result of the COVID-19 pandemic, we have observed greater consumer interest in looking after their health and an increase in global olive oil consumption, mainly is attributable not only to increased international demand but also to the adoption of new production models, including intensive and super-intensive systems, and an unprecedented process of technological modernisation. The mechanisation of harvesting, the digitalisation of irrigation, the genetic improvement of varieties and innovation in olive mills have transformed a traditional crop into a highly technological, efficient activity focused on distinctive quality. in non-traditional markets. On the other hand, demand had to adapt to the fall in olive oil production and, during the 2022/23 marketing years, estimated consumption fell to less than 3 million tonnes. The reduced availability of the product pushed prices to historically high levels and led to a moderation in demand, particularly in markets that are more price-sensitive and where olive oil is a traditional product for daily consumption. CULTIVAR - ANALYSIS AND PROSPECTIVE STUDIES | No. 35 Olive groves and olive oil
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