The olive trees are essentially cultivated for their fruits—Olives, which plays a significant role in Mediterranean cuisine.
The International Olive Council estimates a worldwide olive oil production of 3.1 Million Tons during the 2019/2020 crop year. A third of this production is dedicated to export.
How these Millions of tons of olive oil are used?
Olive oil is an undeniable cooking ingredient for every Mediterranean kitchen. It is used for sautéing, flavouring dishes or as a salad dressing.
A good quality extra virgin olive oil is an excellent choice for cooking. According to the Australasian College of Nutritional and Environmental Medicine, high-quality extra virgin olive oil has a high smoke point well above the required cooking temperature, making it a stable oil and a healthy cooking ingredient. Not to mention its low cholesterol level and the multitude of vitamins, nutrients and antioxidants it contains.
Yet, this is not the only way our body benefits from olive oil. It has been used in skin care for over a thousand years and is still an essential component of a wide selection of cosmetic products.
How much does the olive oil market worth?
In 2018, olive oil's market value had reached 11.2 Billion USD, and it is forecasted to reach 17.2 Billion USD by 2028. In some countries, olive oil exports represent a significant income source for the nation. Hence, the market is usually well organized and even regulated by law. Taking the Tunisian Republic example, uprooting an olive tree is prohibited without governmental approval, according to legislation number 61-20 issued on May 31st, 1961.
Despite the olive wood's unbeatable beauty, the olive tree is way more valuable as a productive tree compared to its lumber. Furthermore, the olive tree has gained multiple symbolic connotations such as the figure of glory, prosperity, fertility, wisdom and peace. Due to its evergreen character, particularly gnarly trunk, the olive tree is even incorporated in modern design as an ornamental feature.
As described above, the olive tree has some immeasurable values. Consequently, olive tree wood has eternally been rare and precious. However, even in limited quantities, we take every chance to transform it into fantastic kitchen tools and embrace the experience of such an attractive and worldwide appreciated product.