Olive oil production in Spain will fall below 1 million tons, according to forecasts

Updated Oct 3, 2023
Spain's olive oil production will not exceed 1 million tonnes in the 2023/24 crop year, according to Luis Planas, Spain's acting minister of agriculture, fisheries and food.
However, he said production was almost certain to exceed the historic low of 663,000 tonnes produced in 2022/23, 54 per cent below the average of the previous four years. Planas added that it is too early to make more accurate predictions. Officials and producers across the country blamed the historic drought gripping the Iberian Peninsula for a poor harvest last year and low expectations for this year. Rainfall in recent weeks has improved the situation slightly, but many producers warned it was too late to save the crop. “First of all, this vlana will be used for next year’s harvest,” Francisco Vaño, owner of Castillo de Canena in Jaén, told El Mundo. Recent rain has seen olive oil prices in stores ease slightly from record highs - extra virgin olive oil has fallen from €8.35 per kilogram on 14 September to €8.19 at the time of writing - with experts expecting an upward trend will remain. Juan Vilar, a Jaén-based olive oil sector strategic consultant, told Diario de Sevilla that ...
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