Key Market Indicators
Consumption of olive oil in Australia is expected to reach 53,000 metric tons by 2026, up from 50,000 metric tons in 2021. This would mark an average year-on-year growth rate of 0.8%. Since 2017, demand for olive oil in Australia has decreased 0.7% year-on-year. Japan overtook the country in 2021, with 50,000 metric tons, while Spain, the United States and Greece came in second, third and fourth in the ranking respectively. Australian production of olive oil is predicted to reach 30,140 metric tons by 2026, up from 24,700 metric tons in 2021. This would be a 3.4% year-on-year average growth rate. Since 1966, the country’s supply of olive oil has risen 4.2% year-on-year. Chile overtook Australia in 2021, with 24,700 metric tons, while Greece, Italy and Tunisia respectively took second, third and fourth place in the ranking.
