Title: Olive Oil Exports Boom Out of Spain, Producing 40% of Global Supply in Andalucía Alone
Headings: Spain’s Olive Oil Industry Export Turnover Exceeds 2 Billion Euros
Spain’s Olive Oil Industry Export Turnover Exceeds 2 Billion Euros
Katrina Pirner
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Content: The most obvious explanation is the industry’s high quality. Indeed, last April Spain came second in the prestigious NYIOOC World Olive Oil Competition. The country’s olive oil producers have also benefited from the popularity of the Mediterranean diet. This health trend has helped sustain demand for olive oil even as consumption in Spain has fallen. Notably, while olive oil exports within the EU have decreased, pomace olive oil exports have actually expanded. This contributed to the 203 million euro turnover earned by pomace oil exports between October and May. Part of pomace oil’s appeal may be attributed to its affordability. The product is enriched with 5 percent extra virgin olive oil but is cheaper than other olive oil varieties. It’s also comparatively low in polysaturated fats, making it a more nutritious cooking alternative to other vegetable oils. Although the data published by the Ministry of Agriculture, Fisheries and Food confirmed that olive oil exports are above the historic average, the overall data is weaker than previous export periods. Of particular concern is the 42 percent decline in olive oil exports to Italy.