“Earlier in the season, the industry was anticipating an excellent harvest,” Mr Valmorbida said. “However, persistent cold weather and rainfall during May and June, particularly across south-east Australia, have taken their toll.”

Although the Australian olive harvest is not officially recorded each year, the AOOA estimates that the 2023 season will produce between 18 and 19 million litres of olive oil from roughly 110,000 to 120,000 tonnes of olives.

This compares with last year’s output of 14–15 million litres and the record-breaking 2021 crop, which yielded 20–22 million litres of oil.

Mr Valmorbida explained that these fluctuations reflect the biennial cycle of olive production. “This is what we call an ‘on’ year for olives. While we were expecting an excellent yield earlier in the year, harvest results always depend heavily on weather conditions, and this season has been quite mixed for many growers.”

“The oil yield per tonne is noticeably lower than average due to the cooler growing period,” he added, “but the quality of the oil remains excellent because the fruit had more time to ripen gradually.”

Around the world, olive oil prices have reached record highs in Spain, Italy, and Greece, driven by a severe global shortage of olive oil. Hot temperatures, minimal rainfall during key stages of the growing season, and extended drought conditions across southern Spain have drastically reduced European output. In addition, the ongoing conflict in Ukraine has disrupted the production of vegetable and seed oils, increasing global demand for olive oil as an alternative.

In Australia, growers are currently achieving $6–$7 per litre for larger commercial volumes of olive oil, with even higher prices for export batches, premium small-lot oils, and organic extra virgin olive oil.

“With this global shortage, some of the larger Australian producers are in a strong position to export olive oil to Europe and receive competitive returns,” Mr Valmorbida said.

“While that’s encouraging news for the Australian olive oil industry, globally the sector is under pressure,” he continued. “There’s currently a 35–40 percent shortfall in available products, combined with escalating packaging costs, especially for glass and tin materials.”

“These factors, along with rising labour and energy expenses, are leading to higher retail prices for consumers,” he noted.

Mr Valmorbida concluded with a reminder to consumers: “It’s important to remember there’s no product quite like olive oil—its distinctive flavour, health benefits, and culinary versatility make it irreplaceable.”

#oliveharvest2024 #harvest2024

About the Australian Olive Oil Association

The Australian Olive Oil Association (AOOA) is a not-for-profit, independent organisation dedicated to promoting the quality, integrity, and fair trade of olive oil in Australia. Membership is open to olive oil producers, distributors, industry stakeholders, and related organisations.

Since 1993, AOOA has been a signatory to the International Olive Council (IOC) global quality control program. Each year, the Association coordinates independent laboratory testing of leading olive oil brands to ensure compliance with IOC standards.

In addition, the AOOA Certified Quality Seal Program upholds even stricter quality criteria, allowing AOOA-member products to distinguish themselves in both domestic and international markets.

For more information: 

Jan Jacklin, General Manager, Australian Olive Oil Association gm@aooa.com.au www.aooa.com.au

Photo credit:  Julia, olive grove – Kyneton Olives” by avlxyz is licensed under CC BY-SA 2.0. To view a copy of this license, visit: https://creativecommons.org/licenses/by-sa/2.0/?ref=openverse