World olive market shake-up an opportunity for Aussie growers

By Laura Thomas

Instability within the global olive oil market is creating fresh opportunity for Australian producers, according to a new agribusiness report.

It’s been a challenging couple of seasons in the Mediterranean olive-growing meccas of Spain, Italy and Greece.

Europe has long been the world’s olive oil powerhouse, turning out an estimated two thirds of total supply.

But extreme heat and widespread drought conditions have seen production plummet and prices fluctuate in recent years, creating instability within the historic marketplace.

And while production is tipped to stabilise, for Australian producers, the global shift presents a golden opportunity for growth.

According to the ANZ’s Food for Thought summer 2025/26 edition, “olive oil has become both a pantry essential and an investment story, linking health, heritage and global trade”.

Head of Food, Beverage and Agribusiness – Institutional at ANZ Gerry Karam said olive oil was no longer viewed as a niche ingredient.

“It is part of daily cooking, supported by health trends, and the appeal of the Mediterranean diet,” he said in a media release published this week.

“That shift is driving interest in provenance, freshness and trusted brands – areas where Australian producers excel.

“Global production will eventually normalise, but the market has fundamentally changed.

“For Australian growers and processors, this period offers a real chance to build premium, export-ready brands at a time when the world is more open than ever to high-quality olive oil.”

Australian Olive Association Chief Executive Officer Michael Southan said industry confidence was at an all-time high.

“Both investor and consumer interest in Australian olives remains strong – substantial grove plantings are underway across the country and significant new investment is occurring,” he said.

”The price of our quality extra virgin olive oil has remained steady too, as consumers opt for the health benefits, superior flavour profile and value for money that comes with buying Australian-grown.

“We keep saying it, because it’s true. There is just so much opportunity for growth within the Australian olive industry.”

Sources:
www.anz.com.au
ANZ Food for Thought
www.dailyclimate.org
www.australianolives.com.au