Portugal's olive oil producers anticipate a significant harvest in the 2024/25 crop year, potentially reaching the second-highest production levels. Favorable weather conditions, including increased rainfall, have contributed to optimistic forecasts, although challenges such as labor shortages and quality issues due to rain persist. Key regions like Trás-os-Montes and Alentejo are expected to see production increases, with new olive groves maturing and contributing to the yield. However, some producers caution that excessive rain could impact quality and production levels. The expansion of high-density groves has also led to increased olive pomace production, posing infrastructure challenges.

Spain's olive oil production is expected to rebound significantly after two poor harvests, with estimates ranging from 1.4 to 1.5 million tons for the 2024/25 crop year. Despite some adverse weather conditions, the winter and spring rains have improved water reserves, benefiting non-irrigated groves. Andalusia, a major olive oil-producing region, anticipates substantial production increases, particularly in Jaén and Córdoba. The improved harvest is expected to stabilize prices and benefit the supply chain, although fluctuations may occur due to weather conditions. Producers are optimistic about market opportunities as prices moderate.

The article discusses former President Donald Trump's proposal to impose tariffs on imported goods, including olive oil, as part of his trade policy. Stakeholders express concerns about the potential negative impact on U.S. olive oil consumers and the industry, with fears of increased prices and reduced consumption. While some argue that consumers have shown resilience to price increases, others, including Treasury Secretary Janet Yellen, warn that such tariffs could fuel inflation and harm businesses. The article highlights differing opinions on the effectiveness and consequences of the proposed tariffs.

Producers from the Southern Hemisphere, including South Africa, Brazil, and Australia, achieved significant success at the 2024 NYIOOC World Olive Oil Competition despite facing challenges such as extreme weather and rising production costs. South Africa led with 12 awards, while Brazil and Chile also performed well despite adverse conditions. Notable brands like Ubuntu and Rio Largo were recognized for their quality olive oils. The competition highlighted the resilience and dedication of producers, with awards expected to boost export opportunities and consumer trust.

Dusan Kaljevic, CEO of Filippo Berio North America, anticipates a rebound in global olive oil production, with significant increases expected in Spain, Turkey, and Tunisia due to favorable weather and government support. This rebound is likely to lead to falling prices by early 2025. Despite challenges like climate change, Kaljevic emphasizes the need for technological advancements and diversification in sourcing strategies to sustain the industry. Filippo Berio is actively studying resilient olive cultivars and expanding its market presence in the U.S., aiming to increase household penetration and consumption.

Producers in South America's Southern Cone, including Argentina, Chile, and Uruguay, overcame challenging harvests and high production costs to win 12 awards at the 2024 NYIOOC World Olive Oil Competition. Chilean producers, despite a 30% production decline, secured multiple awards, with Alonso Olive Oil achieving a record year. In Argentina, Olivares de Don Ignacio and Familia Zuccardi celebrated Gold Awards, while Uruguay's Agrolandia and Nuevo Manantial also received recognition. The awards are seen as a quality benchmark and a boost for global brand awareness, with hopes for increased exports, particularly to the United States. Producers remain optimistic about the 2025 harvest, anticipating a production rebound.

Argentina's olive oil production significantly declined in 2024 after a record harvest in 2023, with estimates suggesting a 70% drop. The decline is attributed to the natural alternate bearing cycle of olive trees and challenging weather conditions. Rising production costs, driven by the removal of subsidies on electricity and fuel by President Javier Milei's government, have further impacted producers. Despite these challenges, high global olive oil prices have provided some financial relief. The government is implementing reforms to stabilize the economy, including labor and import regulation changes, which may benefit producers in the long term. Looking ahead, producers are cautiously optimistic about a potential rebound in 2025, though weather conditions remain a concern.

The NYIOOC World Olive Oil Competition Southern Hemisphere division is underway, with producers from seven countries participating. Despite challenges such as poor harvests due to climatic and agronomic factors, producers from countries like Brazil, Argentina, Chile, and Uruguay are eager to showcase their high-quality extra virgin olive oils. Awards from the competition are seen as crucial for market positioning and brand recognition, both locally and internationally. Producers like Olivos Ruta del Sol, El Mistol, and Cobram Estate have been highlighted for their achievements, emphasizing the importance of international recognition in promoting their products.

California's table olive production is set to increase for the second consecutive year, with a projected yield of 40,000 U.S. tons in 2024, attributed to favorable weather conditions and increased precipitation. Despite this growth, the long-term trend shows a decline in production due to factors such as labor shortages, rising costs, and competition from cheaper imports. Liz Tagami of American Olive Farmer highlights challenges including restrictive immigration policies and economic pressures. The U.S. International Trade Commission's decision to extend tariffs on Spanish olive imports offers some relief to local producers.

Olive growers and oil producers in Turkey anticipate a lower harvest in the 2023/24 crop year due to adverse weather conditions, including cold and rainy spring weather, hail, and the devastating earthquakes in eastern Turkey. Last year's record-high yield of 421,000 tons is unlikely to be matched, with some producers expecting up to 60 percent less olive oil production. The National Olive and Olive Oil Council and the United States Department of Agriculture predict a decrease in production, attributing it to the natural alternate bearing cycle of olive trees and other factors. Despite the challenges, industry representatives remain hopeful for Turkey's olive cultivation future, emphasizing the importance of sustainable agricultural practices to mitigate the impact of climate change.