The official estimate by the European Union of the 2015/16 Olive Oil Harvest calls for 2,049,600 metric tons of output, up 42% from last year’s dismal harvest of 1,433,600 metric tons. Global output is estimated at 2,900,000 metric tons, up 22% according to the International Olive Oil Council. This will bring prices down at the store shelves. Spain (by far), Italy and Greece, remain the top three global producers. Morocco, Tunisia and Turkey are catching up fast. Quality is a different issue… Happy New Year!
