Italian olive oil production is set to drop by 26% this year compared to 2019, according to Confagricultura, a group that represents Italy's agriculture sector. However, Italy is not the only country to register a negative performance, with other olive oil producers such as Portugal (-35%) and Greece (-25%) also seeing production fall.

In contrast to the other Mediterranean countries, Spain will consolidate its leadership in the sector this year due to a 27% increase in production, which in turn will help lift the overall European olive oil production sector by 5% this year.