Albanian Olive Oil Production to increase while Top Producing Countries Face Crisis

TIRANA, December 6

World production of virgin olive oil is expected to drop by 14 percent during 2016-2017 season. These data were unveiled in the recent report issued by the International Olive Council (IOC). But, the good news comes for Albania, which ranks among the four countries where olive oil production is foreseen to increase by five percent. The other three countries are Turkey, Egypt and Israel where olive oil production will increase respectively by 24%, 8%, and 7%.
Meanwhile, a difficult situation is expected in the top olive oil producing countries. Thus, production in Italy will drop by 49%, in Greece by 19% and in Portugal by 14%. The situation in Italy will be affected by the difficult weather condition and the pesticide crisis. Consequently, olive oil price in some of the above-mentioned countries increased by ten percent during the recent weeks.
About 10,500 tons of olive oil are produced annually in Albania.

News Source: Scan TV