Council predicts dip in olive oil consumption

A slight reduction in world olive oil consumption and a 20% fall in production are the current forecasts from the International Olive Council (IOC) for the 2012/13 season. According to updated but provisional figures presented at the 40th meeting of the IOC Advisory Committee on Olive Oil and Table Olives, held on November 14 and 15, global consumption is expected to slip from about 3.2 million tons in 2010/11 to 3.1 million this season.