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Portugal's olive oil production is expected to reach a new high in 2021

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Portugal's Express reported on September 24 that olivum, the Portuguese Southern Olive Planting and pressing Association, revealed that thanks to favorable conditions such as suitable rain, less pests and olive flowering on schedule, the total output of Portuguese olive oil will reach 150000 tons in 2021, a record high over the years. Although Portugal is currently the eighth largest producer of olive oil in the world, the quality of Portuguese olive oil ranks first in the world. Virgin and super virgin olive oil accounts for 95% of the total output of Portuguese olive oil, the United States accounts for 90%, and Spain and Italy account for only 70%. Portugal has been self-sufficient in olive oil since 2014, and its exports have increased year after year. The export volume in 2017 is 500 million euros and that in 2020 is 600 million euros. It is expected that there will be a new breakthrough this year. Portuguese olive oil industry is dominated by local enterprises. In recent years, foreign direct investment from Spain, Britain, Chile, Saudi Arabia, Switzerland and Denmark has gradually increased. Olivum is the largest Olive Oil Association in Portugal. It has 100 member enterprises, more than 300 plantations, an olive planting area of 42000 hectares and 14 press mills.

Source:Economic and Commercial Department of the Embassy in the Portuguese Republic