Morocco’s Olive Oil Exports Surge as Domestic Prices Soar

The European Commission document entitled "Situation of the olive oil and table olives markets" reveals that Moroccan olive exports stabilized at 12,000 tons between October and November 2024 compared to the same period of the 2023/2024 season, while olive oil exports increased from 553 tons to 841 tons from one season to the next (October-November). At the same time, European Union olive oil imports have seen a 31.4% drop at the start of the 2024/2025 season (October-November 2024), from 27,397 tons to 18,802 tons compared to the same period of the previous season.

The European Commission forecasts a 36% increase in olive oil production in non-EU countries during the 2024/2025 season. But according to forecasts, Moroccan olive oil production is expected to plummet to 90,000 tons this season, compared to 106,000 tons the previous season and 145,000 tons during the 2019/2020 season. This is due to a 55% increase in Tunisian olive oil production, from 220,000 tons in 2023/2024 to 340,000 tons this season. Turkey, meanwhile, is recording a 109% increase in its production, from 215,000 tons to 450,000 tons in 2024/2025.

The document also forecasts a 30% increase in European olive oil production during the 2024/2025 season, from 1,531,000 tons to 1,989,000 tons. Thus, the production of Spain, Morocco’s neighboring country, has increased from 854,000 tons in 2023/2024 to 1,290,000 tons in 2024/2025, an increase of 51%. The publication of this data comes in a context of a significant drop in Moroccan olive oil production due to the adverse effects of drought on olive production, leading to inflation in prices. The price of a liter of olive oil has reached record levels in Morocco, exceeding 100 dirhams this year.