Olive & Oil 02/04/2012

The production of olive oil in the Mediterranean area conditioned by the weather

The olive oil campaign is closing everwhere. The forecast by Teatro Naturale changed, in particular for Spain and Greece. Italy confirms the previous data with nice feedback on the quality of extrra virgin production

The oil campaign is to close throughout the Mediterranean basin and it's time to understand in the the October outlook by Teatro Naturale was right (http://www.teatronaturale.com/article/3047.html).

In Italy we provided 350 000 tons and the actual production is not expected to differ markedly from those data. Only a few thousand tons less, due to the non-harvesting by growers, especially in the Centre-North. In southern Apulia is to dominate, as expected, in the north of Bari, where they are made of high quality extra virgin. Some problems in the Salento, because of leprosy olive. Good quality performance in Calabria, especially in the provinces of Crotone and Catanzaro, where Ottobratica and Sinopolese produced pleasant extra virgin. Year average for Sicily, on both a quantitative and qualitative.

The final production for Spain is almost 1.6 million tons. This is the production record of all time for the Iberian country, although there is a widespread feeling that could be broken soon. But probably not in the campaign 2012/13, because of continuing drought in Andalucia, which is very worrying the growers. The result has certainly affected the Spanish production of a very high extraction yield, about 21% (an increase of nearly a point from the previous season), and return an abundant harvest in the Toledo area where the cold does not hit. Thus there are the extra virgin Cornicabra of excellent quality. Worth noting is the increased availability of Arbequina oils, appreciated especially for certain types of commercial blends. Only slightly negative trends in Catalonia to fly problems and mild drought.

Surprise in the negative instead of Greece, where Teatro Naturale had estimated 280 thousand tons. Greece will produce not more than 240 thousand, especially for problems during the olive oil campaign in Crete. In areas of Iraklio and Heraclea, in fact, there were days of very low temperatures that have affected crops in terms of quality and quantity. It is estimated a loss only in these provinces to 15 thousand tons of oil. Some problems in the southern parts of Pelopponneso for olive fruit fly problems.

Poorer than expected production in Tunisia. Accredited to 200 thousand tons should not produce more than 160 thousand. Especially in the north of the continuous rains underdog weigh the collection, so that the campaign is still continuing.

Even in Morocco, production is expected to be slightly lower than expected: 60 000 tons.

Substantially confirmed the estimates for Turkey (200 thousand tons) and Syria (150 thousand tons).

Finally, in addition to the exponential growth of the stocks in all producing countries, including the substantial lack of oils on the market glaring, with medium to high acidity. In recent weeks, in fact, the market is driven primarily by the blatant trading of virgin oils that are substandard to be sold.

di Marcello Scoccia