Spain is regaining its position as the second largest exporter of olive oil in the United States.

In the first half of 2021, the export of olive oil from Spain to the United States increased by almost 40%. Andalusia has largely contributed to this growth. 

It is expected that production in the European Union as a whole will reach 2.1 million tons in the current agricultural year, which is comparable to the yield of the previous season. Exports are also likely to be similar to the volumes of the last harvest. However, we must be prepared for an increase in operating costs. Growing inflationary pressures in the EU have led to a sharp increase in energy, raw materials and shipping costs. One of the most striking examples is the production of fertilizers, the prices of which increased by 77% last year. 

As for exports, the EU expects to see modest but above average growth compared to the current agricultural year, largely driven by increased trade with China and the United States. On average, the prices of extra virgin olive oil are growing by 4% per year. The consumers can be recommended to buy this product more actively, since olive oil is stored for a long time under the conditions for this.