Comparing olive oil production and export between Spain and Turkey 2024/2025

Comparing olive oil production and export between Spain and Turkey reveals significant contrasts, particularly in terms of volume and market trends.

Olive Oil Production:

Spain is the world's top producer of olive oil, with 2024/25 forecasts indicating it will yield between 1.3 and 1.5 million tons. This volume far surpasses Turkey's projected production, which is estimated at around 300,000 to 320,000 tons for the same period. Spain's production has been affected by adverse weather in recent years, but it remains a dominant force globally. Turkey, however, has shown remarkable growth in production recently and is now among the top five global producers, leveraging favorable conditions and investing in infrastructure and technology.

Olive Oil Exports:

Spain exports a significant portion of its olive oil, particularly within the European Union and to North America, which accounted for roughly 90% of its exports in recent years. However, rising production costs and droughts have impacted Spanish olive oil prices, pushing the price for extra virgin olive oil (EVOO) over €9 per kilogram earlier in 2024. Turkey, while producing much less, has focused on increasing exports with notable success. For the 2023/24 season, Turkish olive oil exports increased by 50%, reaching major markets like the United States, Spain, and Japan. Turkey has prioritized the export of higher-value packaged olive oil, which constitutes about 53% of its olive oil exports, enhancing its market presence and export revenues.

Olive Oil Sectors Market Dynamics:

Spain's olive oil sector has been pressured by high costs and competitive global pricing. Meanwhile, Turkey, benefiting from increased production, lower production costs, and strategic packaging initiatives, anticipates expanding its export value. With global shortages affecting supply, Turkey's production gains position it to capture more market share and potentially exceed $500 million in export revenue by the next season.

This comparative overview shows Spain's established dominance in olive oil production, while Turkey's industry is rapidly evolving, making it a stronger competitor on the global market.

Sources: International Olive Council, Olive Oil Times, OliveNews.gr