Olive oil is a widely consumed and highly valued edible oil, extracted from the fruit of the olive tree (Olea europaea). It plays a significant role in Mediterranean cuisine and is known for its health benefits, rich flavor, and versatile uses. Olive oil is also used in cosmetics, pharmaceuticals, and various industrial applications.

• Major Producers: Spain, Italy, Greece, and Tunisia are the largest producers of olive oil. Spain, in particular, dominates the global market, accounting for nearly half of the world’s production.
• Export Markets: Olive oil is exported worldwide, with key importers including the European Union, the U.S., China, and Japan.
• Price Factors: Olive oil prices are influenced by factors such as weather conditions in key producing regions, demand for premium oils, harvest yields, and market trends.

• Extra Virgin Olive Oil (EVOO): The highest quality olive oil, extracted using mechanical means without chemical treatment. It has a low acidity (below 0.8%) and retains most of the olive’s natural flavors, vitamins, and antioxidants.
• Virgin Olive Oil: Slightly lower in quality than EVOO, but still produced mechanically without chemical additives. Its acidity is slightly higher (up to 2%), but it maintains a good flavor profile.
• Refined Olive Oil: Made from virgin olive oils that have been refined to neutralize strong tastes or odors. It has a lighter flavor and a higher smoke point, making it suitable for high-heat cooking.
• Olive Pomace Oil: The lowest grade, extracted from the remaining pulp after the mechanical pressing. It is chemically refined and often blended with higher-grade oils.