Unjustified drop in olive oil prices in Spain

Olive oil prices have fallen in recent weeks. In light of this situation, Cooperativas Agro-alimentarias de España has called for responsibility and has insisted on the need to avoid movements that could aggravate the situation. The organisation stresses that the downward trend in prices is unjustified if the available data is analysed. As of 30 November, oil stocks in Spain amounted to 321,150 tonnes, the lowest figure since the 2018/2019 campaign and 57,751 tonnes less than at the same time last year. In addition, the industrial yields of the olives harvested so far are between 15% and 17%, well below the average used to calculate the initial harvest forecasts. The lack of rain in November and the absence of forecasts of precipitation in December could cause the olive trees to arrive in poor condition for the next campaign. The Agro-Food Cooperatives warn that many farmers are choosing to sell their oil individually for fear of further price drops. This trend causes a massive ...