IOC estimates higher production of olive oil for the 2011/12 season
According to the international olive council (IOC), the 2011/12 production season of olive oil, will be higher compared with that of the previous season both for the EU and the non-EU countries. Weather permitting of course.
The IOC forecasts for Greece that it will produce 310.000t of olive oil about 3% higher than last season.
The ELEONES purchasing team has a different picture for the Northern part of Greece, where a sharp drop in the production volume of olive oil is anticipated this season. This is due to the freezing weather of March 2011 that affected the development of the fruits on the trees.