Industry forecast: Brazilian olive oil prices are expected to fall by more than 20% by 2025

Brazilian website "spacemoney" reported on December 26 that the price of olive oil in Brazil began to rise in 2023 and reached its peak in June 2024 after a whole year. Due to the sharp rise in prices, some supermarkets in Brazil even installed anti-theft seals for such products. The price increase is because Europe has experienced severe drought in the past two years, which has led to a significant reduction in olive production, thereby reducing the raw materials for olive oil production. Brazil's local olive oil production is very small, so the domestic market mainly relies on European supply, most of which comes from Portugal and Spain. According to statistics, the imports from these two countries account for 44% and 14% of Brazil's total olive oil imports, respectively. Leonardo Scandola, head of Latin American business at Filippo Berri Scandola noted: "The good news is that olive oil production in the Mediterranean basin will increase this year." According to EU data, EU ...