Spain: More tension looms in the olive oil market

Olimerca.- The olive oil market at source, during the first week of January, and still dominated by the New Year and Epiphany festivities, has behaved in a climate of great tranquility with a minimum supply, especially for part of the cooperative sector, and a low demand where speculation begins to move that it welcomes buying lampante olive oil between €4,900 and €4,950/ton. And while the entire sector is very aware of the AICA data, corresponding to the month of December, to get closer to the final figure for olive oil production, the different operators are clear: consumption will drop but the final harvest will be very low and there will be many tensions in the coming months, especially when Greece and Turkey have sold a large part of their production and markets like Italy have to come to Spain to buy, we are talking about March 2023 On the other hand, the situation of the reservoirs, having improved, is currently even worse than a year ago, despite the rainsPrices in the ...