Half the Spanish olive oil this year, twice the Greek as prices climb

The world produced 3.164 million tons of olive oil during the 2013-14 crop year, according to the latest International Olive Council (IOC) newsletter — an increase of 32 percent over the year before. Spain, which accounted for 57% of the global output had a record year, nearly doubling its production and making up for lower totals from other producers, notably Greece which saw its yield drop by more than half to 135,000 tons.