Sunflower oil shortage in Spain is a boon for olive oil

Published 2022년 3월 23일

Tridge summary

In Spain, the price of sunflower oil has surged by 64% in a week due to reduced supplies from Ukraine, leading to a scarcity and panicked buying. This shortage has inspired retailers to promote olive oil as a replacement, leveraging Spain's abundant supply and global export capabilities. However, not all industries welcome this shift, as sunflower and olive oils have distinct properties and uses, especially in bakery and confectionery products. Some sectors are already experiencing production challenges and are seeking alternative oils, while canned fish manufacturers express concerns over the potential cost and flavor impacts on customers. This situation highlights the complexities and challenges of global supply chain disruptions and the efforts to adapt to them domestically.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest official data, the price of sunflower oil in this country has increased by 64% over the past week. The surge in prices for sunflower oil in Spain after the reduction in supplies from Ukraine provided new opportunities for producers of one of the most famous Spanish products - olive oil. Even after Spanish supermarkets limited the sale of sunflower oil to a few bottles per person, store shelves were empty, prompting retailers to stock up on domestic alternatives. In Spain, bottled oil is guaranteed to be consumed because there is enough olive oil in the country, said Primitivo Fernandez, president of the National Association of Edible Oil Producers. Sunflower oil from Ukraine accounted for about 40%, or 400 thousand tons, of the total imports of this product to Spain in addition to the 300 thousand tons that are produced in the country. According to the latest official data, the price of sunflower oil has increased by 64% over the past week. As shoppers ...

Source: Specagro