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| The world market is a mature
one, still dominated by Europe in both the production and consumption
of table olives and olive oil. World production of olives is currently
more than 10 million tonnes per annum, nearly 2 million of which goes
into foreign trade.
Since 1980, world consumption of table olives has been increasing by between 1.5% and 2.5% per annum and that of olive oil by an average of about 1% per annum. Australia imports nearly $175 million per annum (2002/2003) of olive products, 76% of which is oil (value). These imports have been increasing at an average rate of nearly 10% per annum.
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| Health and diet-consciousness are major factors in the unprecedented 'explosion' of demand for olive oil over the last 20 years. World-wide studies have shown that extra virgin olive oil helps lower cholesterol levels and reduces the risk of heart attack and cancer, and Australians, motivated by the desire to better their health and well-being, are demanding ever-increasing volumes of the product, which is positioned at the 'premium' end of the market. | |
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Did you
know?
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Spain is the leading
producer of olive oil, followed by Italy and Greece. The three combined
account for 77% of world production and 78% of consumption
Olive oil consumption in countries like the United States, Japan and Australia is increasing at a rate of over 10% p.a. Australia imports nearly $175 million worth of olive oil and table olives p.a. Extra virgin
olive oil helps lower cholesterol levels and reduces the risk of
heart attack and cancer |
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