Shortage of Spanish Olives in 2023 Due to Lack of Rain

In Spain, due to the lack of rain, the quantities of olives available in 2023 have been around half those of the previous season. As a result, olive oil prices increased by 20–25% YoY in 2023. The forecasts for the next campaign are not very positive, as it seems that the lack of rain could generate a campaign similar to the current one. The new harvest is expected in October-November 2023; thus, until then, the shortage situation will continue.