5 Countries that Produce the Best Extra Virgin Olive Oil

3. Portugal

2021 Olive Oil Exports: $829 million

The production of extra virgin olive oil in Portugal is mostly centered around the Trás-os-Montes and Alentejo districts, which are renowned for the superior quality of their olive oils. Cobrançosa, Cordovil de Serpa, Galician, Madural, and Verdeal are a few of the common olive kinds cultivated in Portugal.

Portugal exports olive oil primarily to Brazil, Spain, Italy, the US, and France. It is the 16^th most exported product of Portugal. The country receives preferential tariffs on the export of olive oil to fellow European Union (EU) members. Portugal is responsible for 9.89% of total global olive oil exports. In the last decade, the country has seen the production of olive oil increase four times, and exports rise by three times, helping the country generate a trade surplus of over $390 million from olive oil now. The country was a net importer of olive oil until 2008 and was able to overturn the position due to better irrigation and investment in new technology.