---
title: Bulk Oil Blog | Non-GMO, Organic and Olive Oils | Harvest/Commodity Market (3)
description: Harvest/Commodity Market | Edible oil industry insight for manufacturers and distributors. Learn about the commodity market, read oil and packaging comparisons, and more! (3)
---
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## [Why does the price of bulk olive oil change?](https://www.centrafoods.com/blog/why-does-the-price-of-bulk-olive-oil-change)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) March 7, 2014 at 8:00 AM
The price of bulk olive oil changes on a daily basis around the world and it is, in essence, a commodity item.
### What is a commodity?
A commodity is, by Webster’s definition, “a raw material or primary agricultural product that can be bought and sold.” Many raw food ingredients are considered commodity items; to name a few, wheat, sugar and soybean oil are good examples here in the US. For the most part, commodities are bought in very large volumes (many truckloads or railcars at a time) and contracting prices is common.
One of the characteristics of a commodity is that price can change by the day, hour or even minute. It is affected by things like supply and demand, import and export trade policies, international politics, local and global crop production and many other factors. In the US, many of our commodities are regulated by the Chicago Board of Trade which gives buyers and sellers a baseline for their prices.
[Continue Reading](https://www.centrafoods.com/blog/why-does-the-price-of-bulk-olive-oil-change)
## [The Top 4 Benefits of Signing a Supply Contract for Olive Oil](https://www.centrafoods.com/blog/bid/342512/the-top-4-benefits-of-signing-a-supply-contract-for-olive-oil)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) February 20, 2014 at 5:25 AM
Bulk olive oil is, in essence, a commodity item. This means that the global market price fluctuates on a daily basis and is largely dependent on the supply of olive oil available in the world.
[Continue Reading](https://www.centrafoods.com/blog/bid/342512/the-top-4-benefits-of-signing-a-supply-contract-for-olive-oil)
## [The Olive Oil Harvest: A 2014 Commodity Market Update](https://www.centrafoods.com/blog/the-olive-oil-harvest-a-2014-commodity-market-update)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) January 10, 2014 at 7:15 AM
As we enter the New Year, the olive harvest in the Mediterranean is almost done. The harvest season usually lasts from October to January, and by the end of this season, we all begin to get a good look at what the prices will look like over the coming months.
In Spain, this 2013/14 harvest has been a reasonably typical year, with production levels comparable to the “Spanish norm”.This is in stark contrast to [last year’s olive harvest (2012/13)](https://www.centrafoods.com/blog/bid/321160/The-2012-13-Olive-Oil-Harvest-In-Review) which was much lower than usual. Because of the last year’s scant harvest, market prices for olive oil were somewhat higher over the previous year. However, we now expect that to change.
[Continue Reading](https://www.centrafoods.com/blog/the-olive-oil-harvest-a-2014-commodity-market-update)
## [Why Does the Cost of Olive Oil Fluctuate?](https://www.centrafoods.com/blog/bid/324689/why-does-the-cost-of-olive-oil-fluctuate)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) December 6, 2013 at 4:53 AM
Bulk olive oil is, in essence, a commodity item. This means that the global market price fluctuates on a daily basis and is largely dependent on the supply of olive oil available in the world.
[Continue Reading](https://www.centrafoods.com/blog/bid/324689/why-does-the-cost-of-olive-oil-fluctuate)
## [The 2012/13 Olive Oil Harvest, In Review](https://www.centrafoods.com/blog/bid/321160/The-2012-13-Olive-Oil-Harvest-In-Review)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) November 16, 2013 at 6:00 AM
The olive oil market has changed significantly in the last year. In September 2012, Spain announced that their 2013 production was predicted to be down by 40% from the year before, due to the harsh storms in the spring that destroyed many of the olive blossoms. Olive oil prices started rising around the globe within days.
[Continue Reading](https://www.centrafoods.com/blog/bid/321160/The-2012-13-Olive-Oil-Harvest-In-Review)
## [Is Italian Olive Oil Superior to Spanish Olive Oil?](https://www.centrafoods.com/blog/bid/307694/is-italian-olive-oil-superior-to-spanish-olive-oil)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) October 25, 2013 at 8:34 AM
There is a common perception related to Olive Oils that are imported from Italy; people assume that they're higher quality than those from their Mediterranean neighbors, Spain. Interestingly, there is no direct correlation between higher quality oils when you compare these two beautiful countries' output.
[Continue Reading](https://www.centrafoods.com/blog/bid/307694/is-italian-olive-oil-superior-to-spanish-olive-oil)
## [Olive Oil Production Levels by Country in 2009](https://www.centrafoods.com/blog/bid/307684/Olive-Oil-Production-Levels-by-Country-in-2009)
Posted by [Hannah Broaddus](https://www.centrafoods.com/blog/author/hannah-broaddus) March 30, 2010 at 12:39 PM
We thought you might enjoy an overview of the world's bulk olive oil production, broken down by country:
As of 2009, following are the numbers:
- Spain: Olive Oil Production = 1,199,200 tons
- Italy: Olive Oil Production = 587,700 tons
- Greece: Olive Oil Production = 332,600 tons
- Syria: Olive Oil Production = 168,163 tons
- Tunisia: Olive Oil Production = 150,000 tons
- Turkey: Olive Oil Production = 143,600 tons
- Morocco: Olive Oil Production = 95,300 tons
- Portugal: Olive Oil Production = 53,300 tons
- France: Olive Oil Production = 6,300 tons
- United States: Olive Oil Production = 2,700 tons
- Other Countries Combined: Olive Oil Production = 169,122 tons
The above numbers are taken from the [FAOSTAT Crops processed 2009 data for olive oil](http://faostat.fao.org).
[Continue Reading](https://www.centrafoods.com/blog/bid/307684/Olive-Oil-Production-Levels-by-Country-in-2009)
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