In 2023, the supply of olive oil in Australia stood at 71.0 thousand metric tons. Forecasts predict a steady increase in supply, with values reaching 72.0 thousand metric tons in 2024, 73.0 thousand metric tons in 2025, 74.0 thousand metric tons in 2026, 75.0 thousand metric tons in 2027, and 76.0 thousand metric tons in 2028.
The year-on-year variation indicates a consistent growth of approximately 1.39% annually from 2024 to 2028. Over the last two years, the increase has been sequential and stable. The compound annual growth rate (CAGR) over the next five years is projected to be around 1.37%, demonstrating a steady rise in supply.
Future trends to watch for include changes in olive oil consumption patterns driven by health trends, potential impacts of climate change on olive cultivation, and advancements in agricultural technology that could further boost yields and supply. Monitoring these factors could be crucial for anticipating supply shortages or surpluses.
