Olive oil could become cheaper in Brazil in 2025 with increased production in Europe

Olive oil production in Europe will grow 29% in the 2024/2024 harvest, compared to the previous season, according to data from the European Union. The increase in supply should lead to a gradual reduction in the prices of olive oil in Brazil next year, after a spike in 2023 and 2024. An Italian olive oil company predicts a drop in prices after Easter. European olive oil production has experienced two years of decline, due to an intense drought in the region. Olive oil may finally become cheaper for Brazilians in 2025, after a price spike in the country that began in 2023 and continued throughout this year, reaching its peak in June. In view of the increase, some supermarkets have even installed anti-theft seals on the product. The increase in prices was caused by an intense drought in Europe, which drastically reduced olive harvests in the last two years, reducing the raw material for making the oil. 🫒Because Brazil has a very small domestic production of olive oil, it depends on ...