Spanish Olive Oil Prices Continue Upward Trend in W33 Due to Drought

During W33, Spanish olive oil prices remain above USD 8.72/kg EXW. The lack of supply continues to drive Spanish olive oil prices upwards due to the lack of rain during the last two years, marking the most severe market situation of the century. This situation, coupled with rising production costs, threatens an already struggling sector. High temperatures and water shortages during spring affected flowering, emphasizing the need for a rainy autumn.