After years of record prices for olive oil, the product is experiencing a sharp decline internationally: Could

Between July 2022 and April 2024, olive oil prices in Spain skyrocketed, reaching historic levels. After two campaigns of severe drought in the Mediterranean basin and a demand that intensified in the face of the wave of healthy consumption, the value of this product rose by 113% (data from the Spanish CPI), which quickly spread to other markets, with Spain leading this sector internationally. In Argentina, many took advantage of these "stratospheric levels" of olive oil prices, which went from an average of $3,000 to $4,000 per ton (FOB value) to $7,000. But nothing lasts forever, and that upward trend began to show its decline since the end of last year, reaching values similar to those at the beginning of 2022. "The price of olive oil has plummeted by 43.7% in the last year, a drop that coincides with a crucial moment in production, as the current campaign is about to conclude," wrote the Spanish portal Agronegocios, based on data from the National Institute of Statistics ...