If Florida can produce 1% of U.S. olive oil consumption, a half-billion dollar industry could result.
Fact: More than 30% of Florida’s 570,000 acres of citrus grove land lay fallow due to HLB disease and other factors.
Fact: The U.S. olive oil market has grown more than 35% since 2000. That growth is predicted to continue.
Fact: In 2020, U.S. consumption of olive oil was 111 millions gallons.
Fact: U.S. farmers produced less than 5% of U.S. consumption.
Fact: Olives have been cultivated in Florida for 300 years.
Consumption: In 2020, the U.S. consumed 386,000 metric tons of olive oil (111 million gallons). According to the European Union, the June 2021 producer price for Extra Virgin Olive Oil (EVO) olive oil was roughly $US 435.42 per 100kg (27 gallons) or $16.13/gallon. The oil yield in California commercial high density olive groves is generally between 100-200 gallons per acre depending on weather, variety and tree density.
Domestic Production: California, Texas and Georgia currently produce olive oil commercially. A small amount is produced in Arizona, Florida and Alabama. California is the largest domestic producer. The California Olive Oil Council estimates the State hosts 37,000 acres of olives tended by 400 farmers producing 2-4 million gallons per acre per harvest.
Producers: California Olive Ranch is the largest domestic producer of olive oil. They work several thousand acres between Red Bluff and Fresno, CA and recently announced an expansion of 2200 acres with a $35 million infusion of capital. Boundary Bend Ltd. is the largest olive oil producer in Australia. They recently invested $35 million in California and have constructed a new olive mill near Woodland, CA. One of the largest Texas olive operations (there are several) is Texas Olive Ranch, they produce 25,000 gallons of olive oil per year. Georgia Olive Farms, an operation near Lakeland, GA, produces several thousand gallons of olive oil per year.
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