Market situation in the Olive oil and Table olives sectors Committee for the Common Organisation of the Agricultural Markets Arable crops and olive oil 30 May 2017 Lucie Zolichová, AGRI G.4 lucie.zolichova@ec.europa.eu
CHANGES IN ISAMM NOTIFICATIONS ON PRODUCTION & PRICES 2
COMMISSION DELEGATED REGULATION (EU) /... of on supplementing Regulations (EU) No 1307/2013 and (EU) No 1308/2013 of the European Parliament and of the Council with regard to the notifications to the Commission of information and documents COMMISSION IMPLEMENTING REGULATION (EU) /... of laying down rules for the application of Regulations (EU) No 1307/2013 and (EU) No 1308/2013 of the European Parliament and of the Council as regards notifications to the Commission of information and documents and amending and repealing several Commission Regulations Both documents adopted by the Commission on 20.4.2017 Delegated act sent to the EP for the two months examination period Expected date of publication: the last week of June 2017 3
OLIVE OIL PRODUCTION MS concerned: all MS producing olive oil 1. For the PRECEDING annual period from 1 October to 30 September - FINAL production, total domestic consumption and ending stocks ISAMM form nr. 209 WHEN: by 31.10. 2. For the CURRENT annual period from 1 October to 30 September - ESTIMATE of TOTAL production, domestic consumption and ending stocks ISAMM form nr. 715 WHEN: by 31.10. - ESTIMATE of MONTHLY production and an update on total domestic consumption and ending stocks ISAMM form nr. 44 WHEN: by the 15th of each month from November to June 4
OLIVE OIL PRICES MS concerned: MS producing more than 20 000t of olive oil per year Average prices recorded on the main representative markets AND national average prices (in /100kg) ISAMM form nr. 48 WHEN: weekly (Wednesday 12:00h Brussels time) 5
OLIVE OIL PRODUCTION, CONSUMPTION & ENDING STOCKS 6
2016/17 vs 2015/16 WORLD -20% EU -25% non-eu -6% Source: International Olive Council & MS declarations 7
EU production in 2016/17 13% below 5-year average excl. pomace oil Source: International Olive Council; MS declarations 8
MONTHLY EU OLIVE OIL PRODUCTION (2016-2017) Source: MS declarations - Annexe III point A b) et c) du règlement (CE) n 826/2008 - Annex III point A b) and c) of Regulation (EC) No 826/2008 (*) (tonnes) 2016/2017 EL ES FR IT CY MT PT SI HR TOTAL September 290 290 October 1.888 9.600 400 51.773 3.435 80 1.500 68.676 November 37.212 93.100 1.300 98.880 29.410 220 2.500 262.622 December 60.100 455.300 1.100 26.440 38.960 50 500 582.450 January 49.980 524.100 200 3.344 4.580 582.204 February 30.500 153.900 50 475 184.925 March 9.620 38.881 93 48.594 April 2.800 4.430 42 7.272 May 0 June 0 Total 192.100 1.279.311 3.050 181.338 0 0 76.385 350 4.500 1.737.033 Production Estimation 2016/17 195.000 1.280.000 3.061 183.000 6.000 40 76.385 350 4.500 1.748.336 Consumption Estimation 2016/17 110.000 495.000 95.000 539.000 6.300 1.000 70.000 2.000 7.000 1.325.300 Final Stock Estimation 2016/17 (on 30.9.) 17.000 276.000 11.100 6.000 2.600 0 0 0 0 312.700 (*)Commission Regulation (EC) 826/2008 and Commission implementing regulation (EU) No 65/2013 amending Annex III to Regulation (EC) No 826/2008 Notifications ISAMM 15.5.2017 CY, MT- NO ISAMM NOTIFICATIONS. Estimated data or IOC. CHANGE TO PREVIOUS COMMUNICATION 9
Non-EU production in 2016/17 12% below 5-year average Source: International Olive Council excl. pomace oil 10
11
12-40%
EU OLIVE OIL EXTRA-TRADE 13
ORIGIN EU imports of olive oil (t) change Oct 16-Mar 17 2014/15 2015/16 Oct 16 -Mar 17 vs Oct 15-Mar 16 tonnes share tonnes share tonnes share % Tunisia 203.976 84% 75.988 69% 36.976 61% -23% Morocco 26.360 11% 11.513 10% 12.967 21% 78% Turkey 1.043 0% 585 1% 2.156 4% 543% Argentina 2.459 1% 9.201 8% 1.019 2% -85% Others 8.142 3% 12.779 12% 7.950 13% 7% EXTRA EU 241.980 110.066 61.068-12% Source: Eurostat/Comext Periods October - September CN codes 1509 & 1510, all stat. regimes 14
Source: Eurostat/Comext Reminder: Change of CN codes as of 1.1.2017: 15091090 becomes 15091020 (extra virgin) 15091080 (virgin other than lampante) 15
EU olive oil IMPORTS Jan - Apr 2017 conditioned / bulk (t) TARIC_CODE 1509102010 extra virgin in containers of 5 litres or less 1509102090 extra virgin in bulk 85% 2% 3% 2% 2% 1509108010 1509108090 1509900010 1509900090 virgin in containers of 5 litres or less virgin in bulk "olive oil" in containers of 5 litres or less "olive oil" in bulk 7% Source: DG Taxud Surveillance 16
Inward processing (IP) a relief from customs duty and import VAT on goods that are imported from outside the EU to be processed, and then exported outside the EU or released for free circulation in the EU. Excise duty is also suspended when goods are entered into IP. 17
18
19
DESTINATION 2014/15 2015/16 Oct 16 -Mar 17 change Oct 16-Mar 17 vs Oct 15-Mar 16 tonnes share tonnes share tonnes share % USA 201.621 35% 248.054 38% 118.349 37% 4% Brazil 56.093 10% 46.222 7% 23.304 7% 37% Japan 52.329 9% 53.719 8% 25.522 8% 2% China 32.972 6% 43.970 7% 19.066 6% -1% Canada 24.747 4% 29.288 4% 15.117 5% 12% Australia 18.878 3% 26.308 4% 14.994 5% 26% Russia 15.015 3% 16.633 3% 8.276 3% 4% Others 178.761 31% 191.182 29% 98.068 30% 11% EXTRA EU 580.415 655.376 322.694 9% Source: Eurostat/Comext Periods October - September CN codes 1509 & 1510, all stat. regimes EU exports of olive oil (t) 20
Source: Eurostat/Comext 21
SPAIN olive oil EXPORTS Jan - Apr 2017 TARIC_CODE conditioned / bulk (t) 1509102010 1509102090 extra virgin in containers of 5 litres or less extra virgin in bulk 16% 1509108010 virgin in containers of 5 litres or less 14% 33% 1509108090 virgin in bulk 1509900010 "olive oil" in containers of 5 litres or less 3% 34% 1509900090 "olive oil" in bulk Source: DG Taxud Surveillance 22
OLIVE OIL INTRA-TRADE 2016/2017 23
Olive oil intra trade 2016/17* (CN 1509) (thousands tons) Origin (declared EXPORTS) Spain Italy Greece Portugal France Others TOTAL Destination volume volume volume volume volume volume total CN 1509 % share % share % share % share % share % share on total on total on total on total on total on total Spain 9,3 18,0% 1,7 3,2% 23,1 58,2% 0,7 13,1% 0,1 1,0% 34,8 Italy 175,6 60,4% 42,6 81,4% 13,5 34,1% 0,1 1,7% 0,2 2,6% 232,0 Greece 0,0 0,0% 0,1 0,2% 0,0 0,0% 0,0 0,0% 0,1 2,0% 0,2 Portugal 40,2 13,8% 0,0 0,0% 0,0 0,0% 0,0 0,0% 0,0 0,2% 40,2 France 32,7 11,2% 10,9 21,2% 0,5 0,9% 1,3 3,2% 1,6 26,4% 46,9 UK 18,0 6,2% 4,9 9,5% 0,6 1,2% 0,1 0,2% 0,1 1,4% 0,2 3,1% 23,9 Germany 6,9 2,4% 14,3 27,6% 3,5 6,6% 0,3 0,8% 0,7 12,6% 0,3 5,0% 25,9 Netherlands 6,0 2,1% 1,0 1,8% 0,2 0,3% 0,2 0,4% 0,1 1,0% 0,9 14,8% 8,2 Others 11,6 4,0% 11,2 21,7% 3,3 6,4% 1,2 3,1% 3,9 70,2% 2,7 44,8% 34,0 TOTAL 291,0 100% 51,6 100% 52,4 100% 39,6 100% 5,5 100% 6,1 100% 446,2 Total same period previous campaign 200,3 56,0 73,5 47,7 2,4 5,8 385,7 Difference same period previous campaign 45% -8% -29% -17% 131% 5% 16% * From 01/10/2016-28/02/2017 Excl olive pomace oil Source: Comext/Eurostat (Data transmission to Eurostat: 40 days for aggregated results) All stat. regimes 24
EU OLIVE OIL PRICES (up to 14.5.2017) 25
EXTRA VIRGIN CATEGORY Evolution of EXTRA VIRGIN olive oil price - SPAIN (Jaén) / 100kg 450 400 Latest price (Week 19/2017) : 403,5 Evolution compared same week last year: + 33,1% 350 300 250 200 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 650 Evolution of EXTRA VIRGIN olive oil price - ITALY (Bari) / 100kg Latest price (Week 19/2017) : 596,0 Evolution compared same week last year : + 67,4% 550 450 350 250 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 Evolution of EXTRA VIRGIN olive oil price - GREECE (Χανιά) / 100kg 400 Latest price (Week 19/2017) : 376,0 Evolution compared same week last year: + 27,5% 350 300 250 200 150 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 26 Source: MS declarations (R826/2008)
VIRGIN CATEGORY 450 400 Evolution of VIRGIN olive oil price - SPAIN (Jaén) / 100kg Latest price (Week 19/2017) : 395,88 Evolution compared same week last year: + 41,0% 350 300 250 200 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 450 400 Evolution of VIRGIN olive oil price - ITALY (Bari) / 100kg Latest price (Week 19/2017) : 420,00 Evolution compared same week last year: + 47,4% 350 300 250 200 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 400 Evolution of VIRGIN olive oil price - GREECE (Χανιά) / 100kg Latest price (Week 19/2017) : 360,00 Evolution compared same week last year: + 28,6% 350 300 250 Source: MS declarations (R826/2008) 200 150 27 2016/2017 2015/2016 2014/2015 5-year average (2011-2016)
LAMPANTE CATEGORY Evolution of LAMPANTE olive oil price - SPAIN (Jaén) / 100kg 450 400 Latest price (Week 19/2017) : 388,88 Evolution compared same week last year: + 41,6% 350 300 250 200 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 400 350 Evolution of LAMPANTE olive oil price - ITALY (Lecce) / 100kg Latest price (Week 19/2017) : 268,00 Evolution compared same week last year: + 30,4% 300 250 200 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 150 Evolution of LAMPANTE olive oil price - GREECE (Χανιά) / 100kg 330 310 Latest price (Week 19/2017) : 310,00 Evolution compared same week last year: + 34,8% 290 270 250 230 210 190 170 150 2016/2017 2015/2016 2014/2015 5-year average (2011-2016) 28 Source: MS declarations (R826/2008)
TABLE OLIVES 29
30
31
32
More market information on olive oil: http://ec.europa.eu/agriculture/olive-oil/index_en.htm Thank you 33