Portuguese olive oil popular abroad

Olive oil exports increased 25% in volume and 15% in value in 2012, despite an 8% drop in production levels. Exports of Portugal’s ‘liquid gold’ were worth €224 million last year, “the highest amount ever” according to Eurostat. The drop in the production rate broke the growth trend that had started in 2007, but wasn’t considered as significant as had been predicted. The lack of rainfall is to blame for lower production levels between October and February, the olive-picking season.