Europe is preparing for an olive oil shortage

Sustainability & Environmental Impact
Aceite de oliva virgen
Market & Price Trends
Publicado 1 de oct. de 2023

Resumen de Tridge

Europe is facing a severe olive oil shortage due to extreme weather conditions, including heatwaves, bushfires, and drought, that have damaged crops for two consecutive years. Spain, alone responsible for half of the world's olive oil supply, has seen its production decrease significantly. As a result, producers have been forced to import olive oil from South America to meet demand, and prices of olive oil have sharply increased. The situation is expected to worsen in the coming years, posing a significant threat to the ancient olive oil industry of the Mediterranean.
Limitación de responsabilidad: el resumen anterior ha sido generado por un modelo de lenguaje de gran tamaño (LLM, por sus siglas en inglés) de última generación y está pensado para utilizarse únicamente con fines informativos. Se recomienda que consulte el artículo original para obtener información precisa y contextualizada.

Contenido original

“Today it is almost physically impossible to buy olive oil. It's sold out,” said Walter Zanre, chief executive of Filippo Berio's UK division. Olive trees have been grown across the Mediterranean for millennia, with Spain alone producing half the world's olive oil supply, but bushfires and high summer temperatures mean the future of this ancient industry is looking increasingly uncertain. According to the International Olive Council, global production is expected to fall to 2.4 million tonnes, less than last year's harvest and well below global demand of about 3 million tonnes, after drought and hot temperatures more than 40 degrees hit production in Spain. Extreme weather conditions in other important growth regions, including Greece, Italy and Portugal, as well as Turkey and Morocco, have exacerbated the crisis. Zanre said the company still had supplies to meet its supply needs, but was forced to import olive oil from Chile to cover shortfalls before this year's harvest, which ...
Fuente: Eastfruit
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