Italy’s olive oil sector saw exports up by 6.8% in volume, to 344,000 tonnes, and 42.6% in value to over €3.09 billion in 2024, reducing the trade deficit by 84%.
With a turnover of €5.8 billion, this performance consolidates Italy’s position as the second-largest global exporter with a 20% share, driven by the popularity of its 42 PDO and eight PGI certified oils, according to ISMEA’s latest report.
While 2024 production dipped by 24% due to climate factors and cyclical patterns, the industry’s extensive network of 620,000 producers and 4,240 mills has sustained it.
Italy’s olive oil industry boasts a growing commitment to environmental sustainability, with over a million hectares of olive groves, nearly a quarter of which are organically farmed.
The country’s appetite for olive oil remained strong, with domestic consumption at 441,000 tonnes a year – or the equivalent of 7.5 litres per person.
A substantial financial support package worth €164.6 million is in place to address challenges in the sector, such as like climate change and disease, by aiming to promote innovative, sustainable, and value-driven production models.
Global Production
Global olive oil production is also witnessing recovery and has exceeded initial forecasts, driven by improved conditions, particularly in Spain, compared to drought-affected seasons in 2022 and 2023.
In Italy, the 2024/2025 harvest season saw a predicted slowdown, resulting in just under 250,000 tonnes of production, a 24% decrease, though slightly better than earlier estimates.
International olive oil prices, which had surged to record highs, began to decline as global supply normalised, with Spanish extra virgin olive oil (EVOO) prices dropping significantly.
However, Italian EVOO prices remained strong, consistently above €9 per kilogram, despite the global downward trend..
Sergio Marchi, director general of ISMEA, stated, “Italian olive oil is a symbol of quality, culture, and identity. Its performance on international markets confirms the sector’s ability to generate value and adapt, maintaining a strong connection with the region and facing new challenges with confidence.”
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Dining and Cooking