A Brief Summary
Olive oil prices have steadily increased in Spain over the last 4 months. Initially, the slight increases were regarded as normal; prices often go up just before the harvest season as world supply is at it’s lowest. However, prices continued to rise when a 50% drop in production was confirmed for the next harvest season due to drought in Spain.
Production in Tunisia, Greece and Italy is all expected to increase this next season. However, prices are still predicted to be higher than last year because Spain is the overall price driver for the market.Continue Reading
Topics: Harvest/Commodity Market