LATEST NEWS ON THE OLIVE OIL HICP AND WORLD TRADE IN OLIVE OIL AND TABLE OLIVES

EU27 – HARMONISED INDEX OF CONSUMER PRICES – OLIVE OIL

International Olive Council

In January, the annual variation rate of the Harmonised index of consumer prices (HICP) for olive oil in the EU-27 stood at +22.9%.

The HICP in the EU-27 in the month of January stood at 126.3.
The variation rate of the HICP stood at +22.9% compared to the same period previous crop year or +2.3% compared to the previous month.

By countries, the largest increases took place in Romania, Ireland, France and Poland while Denmark, Greece, Portugal and Italy reached the smallest increases. 7 countries remain above the EU-27 value.

XXX XXX XXX XXX XXX X XXX X X X X X X Figure 1: Percentage change by country (m/m-12) (%)

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WORLD TRADE IN OLIVE OIL AND TABLE OLIVES

International Olive Council

So far, this 2022/2023 crop year, imports of olive oil and table olives increased by 8.1% and 7.3%, respectively.

So far, this 2022/2023 crop year, imports of olive oils and virgin olive oils in the top markets reached 192 298 tonnes (+8.1%, compared to the same period previous crop year).

In terms of volumes by product category, 74.5% of total imports were under code 15.09.10 (virgin olive oil), followed by imports under 15.09.90 (olive oil) with 22.5% and the remaining 2.9% under 15.10.00 (olive pomace oil).

xxxx x xxxxxx xxxxxx x x x x xxxxx x x x x x x x xx x x x x x xxx xxx Figure 1: Olive oil.

As for table olives, in general, imports rose in the main markets, Australia (+17.3%), Brazil (-7.1%), Canada (+9%), United States (+24.6%) and the extra-EU (-1.4%), compared to the same period the previous crop year.