Situation of the Olive oil market
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  • Situation of the Olive oil market

Spain has undergone a very hot and dry April, which creates tensions in the olive oil market.

Prices in origin keep rising for all categories as the conditions for olives and olive oil production are getting worse. The biggest increase concerns the lampante olive oil’s price, which has reached 5,25€/kg and creates the shutting down of operations.

Prices for virgin olive oil are between 5,30 and 5,50€/kg and between 5,50 and 6,00€/kg for extra virgin olive oil.

Such a situation creates problems for everyone: for those who want to buy, because prices are high and it is getting difficult to find olive oil, and for the producers, who have reduced olive oil stocks.

Producers are worried about the next harvest. The olive tree needs some rain during these weeks because of we are in the flowering season. Without rain, the olive tree will produce fewer flowers or it will be able to maintain fewer flowers and then, fewer olives, so the next harvest could be again very short.

Before the beginning of the harvest in autumn, the summer will be very dry with high temperatures (40-45 ºC) as every year, but the olive tree can bear this season if it is enough hydrated, so it is important that the olive tree can store some water thought the rain before the summer.

Both reasons (a shorter current harvest & a short forecast for the next one if it does not rain), could force all the olive oil producers to launch a more expensive tariff of prices during the next months, so it would be great if you have the opportunity to move in advance to continue developing the market.

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