Global Price Trend of olive oil for the coming months: expected to increase at the beginning of 2022

Although the present olive oil campaign is the best ever in Portugal, the global production increased slightly, less than 10%. Despite increased production, it will not be at an exuberant rate and besides, the market price will be determined by the Spanish market situation. In the neighboring countries, the campaign had been expected to be fair, but relatively low volumes were reported in Italy and Greece due to lack of rain.

Adding to this, the world is experiencing a serious shortage of glass, which brings additional challenges to the supply chain because olive oil is mostly sold in a glass bottle. Unfortunately, the situation is not expected to be resolved soon and will continue until 2022. In the coming year, all the players in the market are predicting an astronomical increase in the prices of raw materials transversally: capsules, cartoons, aluminum, etc. As a result, the prices are estimated to increase at the beginning of 2022 - the first trimester.