Tunisia has reached a historic record in 2024 with the export of olive oil worth 5,000 million dinars. A figure due to a 60% increase in world olive oil prices. Faouzi Zayani, an expert in agricultural policy, attributed this success mainly to the rise in prices on the international market. And this, despite increasing competition from countries such as China and South American nations. He also highlighted the difficulty of predicting prices for the 2024/2025 season, due to many factors influencing the market, such as global supply and demand, and uncertainties related to climatic conditions in Spain, the world’s largest producer, which remains affected by drought.
According to Mr. Zayani, although forecasts expect a slight improvement in the Spanish harvest, the impact of the drought could keep world prices around seven euros. However, he warned that geopolitical factors, such as a possible conflict between Israel and Iran, could negatively influence global olive oil consumption and cause prices to fall.
In Tunisia, olive oil production for the 2024/2025 season is estimated at around 280 thousand tons, according to regional forecasts. The country, capable of producing up to 500 thousand tons per year, consumes around 30 thousand tons of olive oil per year. Thus, Mr. Zayani encouraged an increase in local consumption, with a national target set at 100 thousand tons.
Although recent rainfall in August and September had a positive effect on the harvest, the Ministry of Agriculture has not yet released official figures.
