Morocco’s Olive Oil Exports Set to Double Amid Global Production Slump

According to the latest report from the US Department of Agriculture (USDA) released on Tuesday, May 12, Morocco’s exports could reach 45,000 tons.

While the period is favorable for the kingdom, this is not the case for Tunisia, the 2nd largest olive oil producing country. According to the same source, the Tunisian sector, which will enter the unfavorable year of the olive cycle, will see its exports fall to 130,000 tons.

As for global olive oil production, it could decline for the third consecutive year to 3 million tons compared to 3.12 million tons a year earlier. This drop can be justified by the poor performance of the sector within the European Union (EU). It will be partially offset by the continued growth of the olive processing industry in North Africa and the Middle East, thanks in particular to increased investment.

Moreover, export stocks are expected to show a decline to 1 million tons, with an EU contribution of 725,000 tons.