Investing in Olive Oil
Olive oil represents merely a 3% of the total oil consumption in the world. Its main consumers are also the major producers, the Mediterranean countries. Other growingly
important consumers are the U.S.A., France, U.K., Japan and Germany.
Italy, with a consumption of over 705 thousand tons equivalent to 25% of the total consumption in the world, was the principal consumer in 2010. Spain was in second position,
accounting for around 20% of the total consumption with 560 thousand tons. Interestingly enough, rather than another Mediterranean country, the U.S., became third in total
consumption of olive oil during the year 2009-2010. They consumed a total of 255 thousand tons, corresponding to a 10% of total consumption. It is important to mention that
even though most of the Mediterranean countries have such a high demand for olive oil, they consume almost exclusively what is produced in their own countries. Contrary to
that, U.S.’s intake of this specific oil relies almost entirely on imports, allowing for a great investment opportunity.
Other important consumers such as China, Germany, Japan and the U.K. also rely heavily on imports, yet their consumption levels are significantly lower than the ones found in
the United States of America.