Spain: The oil capacity predicts another low harvest due to water stress in the olive grove

Published 2023년 10월 6일

Tridge summary

The olive campaign in Spain is forecasting a harvest of 766,000 tons of olive oil, with Andalusia expected to produce 550,600 tons. This is a slight increase compared to the previous year, which was the worst in the century. However, the low harvest will result in the lowest olive oil stocks in the last two decades, leading to potential price tensions.

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Original content

The capacity of the olive campaign foresees an olive oil harvest of 766,000 tons throughout Spain, of which 550,600 will be produced in Andalusia, which represents a slight increase in production although it links a second campaign of minimums after last year , the worst of the century. The low harvest will also cause the lowest olive oil stocks to be available in the last two decades, which anticipates that tensions regarding the price of oil will continue. “We do not see a drop in prices in the short term, it is a question of supply and demand,” indicated the Minister of Agriculture, Fisheries, Water and Rural Development, Carmen Crespo, when presenting the capacity in Jaén. The capacity estimates a production in Andalusia of around 2.8 million olives for grinding, which would produce around 550,600 tons of olive oil, a figure that is 7.4% more than the last campaign. The campaign link that is expected to be available for 2023-2024 will be about 232,745 tons of olive oil, so ...

Source: PEefeagro