Food Times Blog

International Oil Council Study

International Oil Council Study

Olive oil consumption is growing in the world, with some historic markets slowing down to make way for new ones that show promising developments. This is what has emerged from the most recent data emerging from the International Olive Council for the first seven months of the 2012-2013 harvesting year. If slight contractions have been seen in traditional export markets like the USA, other more difficult targets like Japan (+27%), China (+19%) and Brazil (+14%) show numbers that are of certain interest. The pace of increasing exports to Russia (5%) is also comforting, while the stall in the United States and Canada (+4% and +2%) should be temporary in nature.
The International Oil Council offers analysis of the larger long-term trend at work influencing consumer spending. The higher market concentration will favour industrial producers, widening the gap with their smaller counterparts. Nonetheless, there will be plenty of space for those who attain top quality levels, as well as those who bet on new distribution channels. It is also forecast that greater focus on extra virgin olive oil will increase competition, with opportunities opening on the horizon for online sales showing huge margins for growth.