Spain’s dominance in olive oil market surges as Italy lags

BULK sales of olive oil from Spain to the US have skyrocketed, new figures show.

In 2007, 16% of 113,000 tons of olive oil – mostly from Spain – arrived in bulk containers, but last year that figure had increased to more than 42% of 331,368 tons.

The figures, released by the International Olive Council (IOC), reflect the rising popularity of olive oil.

Spain accounted for 62% of bulk imports last year, while Italy’s share of the burgeoning large container market was just 4%.

Spain’s dominance in the smaller container market has also surged at the expense of Italy’s.

In 2007, Spain supplied just 9% of the small container market, but it has now grown to account for 25%.

Meanwhile, Italy, which once accounted for two-thirds of olive oil imported in bottles and tins, now only accounts for a third.