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Olive oil production in Spain will fall by about 40% in 2022/2023, according to Cooperativas AgroAlimentarias

Virgin Olive Oil
Spain
Supply
Updated Sep 19, 2022
The sector council of Oil of Agro-food Cooperatives of Spain has calculated that the production of olive oil will be 900,000 tons in the next harvest 2022/2023 that will start in October, about 40% less than the forecast for the current campaign.
The cooperatives have pointed out that these 900,000 tons will be reached "as long as the fall is normal in rainfall, given that, if the drought and high temperatures continue, production will be below this figure," according to sources from the organization professional. On the other hand, they have reported that the accumulated sales of oil during this campaign (up to the month of August) are 1.5 million tons, which represents "an absolute sales record". The representatives of the olive cooperatives have also analyzed the repercussions of the increase in the price of inputs and energy. Costs have multiplied by four in the last year and this will have a direct impact on the oil mills that concentrate most of the energy cost in the months of olive delivery, fundamentally from October to January. With a "very scarce" harvest, the increase in absolute energy and processing costs have an impact on lower production and, therefore, the unit cost per kilo of oil produced increases ...

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