The forecast for Italy's olive production from 2024 to 2028 indicates a consistent decrease from 52.31 thousand metric tons to 47.45 thousand metric tons. In 2023, the production stood at 53.61 thousand metric tons, reflecting a continuous downward trend with a decline from 2024 onward. Year-on-year, the production is estimated to fall by approximately 2.39% on average in the early years and by around 2.43% by 2028. Over the five-year horizon, the compound annual growth rate (CAGR) stands at -2.42%, highlighting an ongoing contraction in production volume.
Future trends to watch for:
- Impact of climate change and extreme weather events on olive crop yields.
- Technological advancements in olive cultivation and improved agricultural practices.
- Changes in European Union agricultural policies and their effects on Italian olive farmers.
- Potential shifts in global demand for olives and olive oil that may influence local production strategies.
