European Commission pushes for transparency in olive oil market

The European Commission has set up the Olive Oil and Table Olives Market Observatory in Brussels, with the aim of improving transparency and information sharing in the sector. The Observatory will collect and analyse market data, offering a comparison platform for operators in the supply chain. This initiative follows a model already used in other agricultural sectors, such as dairy and fruit and vegetables, and aims to provide regular data to foster greater market awareness.

The European Union, the main producer and consumer of olive oil, has seen a 24% reduction in production compared to the five-year average, due to extreme weather events. For the 2023/24 campaign, production was 1,5 million tonnes, with a slight recovery compared to the previous year, but stocks remain low and prices high.

Estimates for 2024/25 indicate a possible normalization of production, although prices could remain high. Under the Common Agricultural Policy (CAP), support tools for the sector are foreseen, aimed at incentivizing sustainable practices and investments in resilience, with particular attention to traditional olive groves that are more affected by climate and market variations.

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