Promising harvest in Europe should reduce the price of olive oil in Brazil by at least 20% in 2025

With a still small domestic olive oil production, Brazil depends almost entirely on the European market to supply its domestic consumption. This scenario makes the country highly vulnerable to fluctuations in olive oil production in the world's main producing regions. The last few years have been challenging: climate problems have reduced global supply and caused olive oil prices to reach historic highs. With the new harvest, which began in October, the outlook is for relief for the market. Robust volumes are expected in the main producing countries, which could result in a significant price reduction for Brazilian consumers as early as 2025. "The estimate is for a minimum 20% drop in prices at the beginning of next year, with possibilities of further reductions throughout the year, considering global demand and exchange rate variations," comments Leonardo Scandola, commercial director of Filippo Berio in Latin America. Olive oil prices have seen their highest increase in Brazil ...