OIL: 75% produced in EU, the Italian percentage drops to 23%

The world production of olive oil is concentrated in the EU (75,7%) where Spain is the first producer reaching 57%, while Italy drops to 13%of the European production and records a 17% decrease in comparison to the previous campaign. Then there is Greece, whose production is about 360.000 tons, with 3% decrease compared with last year’s data. These are the data delivered today by the economic observatory of Unaprol, on the eve of the annual assembly of the Italian olive Consortio. The Unaprol report is based on the data furnished by Coi the International Oleic Council of Madrid, indicating for the campaign 2007/2008 a world production reaching 2,82 ml tons, with a 1% decrease compared to the previous campaign. The whole European production seems stable reaching 2.135 mln tons. The production in Tunisia is increasing (+6%). Among the new productive areas, Australia is growing with about 13.000 tons, covering more than one/third of its own internal requirements.