50% Less Olive Oil Production Expected in Spain Due to Drought

Due to the drought suffered in 2022 in Spain and the heat waves that affected the production areas, the loss of the olive harvest for olive oil is quantified at around 50% for the 2022/23 campaign. In the 2022/23 season, the price per kg of olives in the field is already paid at a 60% higher YoY compared to the 2021/22 season.