Tunisia’s olive oil exports saw a dramatic 85.3% year-on-year increase in volume during Q1 2025, reaching 115,200 tons compared to 62,200 tons in the same period last year, according to the National Olive Oil Office (ONH).
Bulk exports dominate, accounting for 90.6% of total shipments, while packaged oil declined to 9.4% (from 10.8% in 2024).
However in value, export earnings fell 15.6% to 1.44 billion dinars (vs. 1.71 billion dinars in Q1 2024).
The slump in value stems from plummeting global prices. Average export price per ton dropped from 27,494 dinars (March 2024) to 12,521 dinars (March 2025).
According to IMF data, extra virgin olive oil prices crashed 43.5% YoY to $5,603/ton in March 2025, after peaking at a record $10,281/ton in January 2024. Analysts expect the downtrend to persist through 2025.
Industry experts attribute the price drop to rebounding harvests in major producing nations, with Spain’s output projected to rise 52%.
Global production is estimated at 3.1 million tons for 2024/2025 (up from 2.5 million tons last season).