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According to the EVOO world ranking, the best extra virgin olive oil in the world in 2024 was the Spanish oil Rincón de La Subbética DOP Priego de Córdoba, from the Hojiblanca variety. Two other Spanish names completed the podium: Palacio de Los Olivos Picual and Goya Organics Premium. Moreover, within the top 10, only one spot was occupied by oils not produced in Spain. This is not particularly surprising considering that the Iberian country is precisely the leading producer of this liquid gold.

Olive oil production worldwide

But how much olive oil is produced annually? In the 2024/2025 season, according to the most recent estimates, a total of *** million metric tons was produced. Around ** percent of this volume comes from the European Union and, more specifically, from four countries: Spain, Italy, Greece, and Portugal. However, the most internationally recognized company does not belong to any of these nations. The Turkish company Nova Vera Gida ve Tarim San. Tic. A. S. was the most awarded among those dedicated to the production and commercialization of extra virgin olive oil in 2024. After all, this country has only gained weight in the olive oil market in recent years.

Global olive oil consumption

However, in terms of consumption, and despite its growing popularity due to its numerous properties, it is still far behind the quantities of other oils such as palm or soybean oil consumed worldwide. Specifically, during the 2024/2025 campaign, more than ** million metric tons of either of these two varieties were used worldwide compared to barely three million metric tons of olive oil. The high price it can reach compared to other vegetable oils is likely the cause behind this contrast, which became even more pronounced in 2023. In fact, the shortage of this product that year due to poor harvests triggered an unprecedented price increase. In Spain alone, there was an average increase of **** percent between January 2023 and January 2024.