Olive oil industry in Italy - Statistic & Facts
Italy is one of the leading EU and global olive oil producers, with annual production reaching 289,000 tons in the most recent crop year. Nonetheless, the production volume fluctuated notably, experiencing a general decline. For instance, around 20 years ago, it peaked at over double the current value. Such fluctuating production figures are common and stem from the influence of climatic conditions and water availability, which can either enhance or hinder production in alternating years. The recent decline can be attributed to exceptionally hot weather and prolonged drought conditions, significantly impacting olive oil production across southern Europe and subsequently leading to a notable price surge. Specifically in Italy, prices of olive oil witnessed a substantial increase, with the third quarter of 2023 alone showing a rise of over 100 percent compared to the corresponding period in the previous year.
