Greece is set to overcome Italy and become Europe’s second-largest olive oil producer after Spain according to a new research report published recently.
The Italian Institute for the Agricultural and Food Market of Ismea estimates that olive oil in Italy could fall by as much as 120,000 tons or 37 percent compared to last year.
According to this research, production in the 2022/23 crop year is estimated at 208,000 tons, which would see Italy fall from the second to the third largest olive oil producer in Europe.
Greece can exceed last year’s yield and provide more than 300,000 tons, thus surpassing Italy.
In Spain, the world’s largest olive oil producer, a 30- to 50-percent drop in production is expected. Yields are also expected to drop in Portugal and France.