In this article, we will take a look at the 5 countries that produce the best extra virgin olive oil. If you want to see more countries in this selection, go to the 12 Countries that Produce the Best Extra Virgin Olive Oil.
5. Tunisia
2021 Olive Oil Exports: $600 million
Tunisia boasts several different olive varieties, but the most popular ones are Chemlali and Chétoui. The Chemlali kind of olive oil from Tunisia is distinguished by its fruity and somewhat bitter undertones. Olive oil from the nation is renowned for having a lot of healthy polyphenols.
In 2021, Tunisia exported 205,000 tons of olive out of a total production of 240,000 tons, accounting for 7.15% of global olive oil exports. However, the country is set to see a decline in olive oil production in the 2022-23 crop season, which has caused the price of olive oil to double from last year’s levels due to strong demand and lower output from other olive oil-producing countries as well. Furthermore, the vegetable oil market is also under pressure which is causing the price of olive oil to remain elevated. The Olive Oil National Office (ONH) anticipates Tunisia to produce a total output of 180,000 tons this crop season.
4. Greece
2021 Olive Oil Exports: $671 million
Greece has a long history of cultivating olives, with an average annual olive oil production of 430,000 tons. According to experts, 75% of the country’s total production is extra virgin olive oil. The country is considered to be home to the best quality olive oil in the world. A prestigious olive oil producer from Sparta in southern Greece, Sakellaropoulos Organic Farms, won the first position in the 2022 EVOO global olive oil awards in the gourmet olive oil category. Greece is responsible for 8.01% of the total global olive oil exports. The majority of Greek olive oil is exported to European countries, but it is also exported to other parts of the world, including the US and Canada.
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 16th 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.
2. Italy
2021 Olive Oil Exports: $1.73 billion
Italy produces 76% of the olive oil from the region of Puglia, Calabria, and Sicily. The country is known for growing the Frantoio, Leccino, and Pendolino varieties, which are known for their fruity flavor. In addition to extra virgin olive oil, Italy also produces and exports other types of olive oil, such as lampante oil, which is used for industrial purposes, and refined olive oil, which is used for cooking. The production of olive oil in Italy is done by small and medium size companies and cooperatives. Italy is the second biggest exporter of olive oil in the world and the biggest importer of olive oil in the world as well. Overall, the country is a net importer of olive oil currently.
1. Spain
2021 Olive Oil Exports: $3.87 billion
Spain is commonly regarded to be one of the world’s top manufacturers of premium extra virgin olive oil. Spanish olive oil is highly coveted by both customers and cooks for its well-balanced flavor.
The country is the biggest exporter of extra virgin olive oil in the world, accounting for a market share of 46.21%. According to the International Olive Council (IOC), Spain produces 40% of the global olive oil. The Spanish regions of Andalusia, Extremadura, and La Mancha are the main olive oil-producing regions in the country. The Spanish government recently implemented a reduction in the value-added tax (VAT) on olive oil and other cooking oils to counter the impact of raging inflation and reduce the burden on consumers. The VAT has been slashed from 10% to 5% from January 1 to June 30, 2023. The cost of producing olives has seen a drastic increase due to a rise in the cost of energy, fertilizer, and labor.
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