News

Spanish olive oil stocks in Catalonia in the red

Olive Oil
Spain
Sustainability & Environmental Impact
Market & Price Trends
Published Mar 26, 2024

Tridge summary

The olive oil industry in Catalonia is facing significant challenges due to ongoing drought conditions and production shortages, which are impacting the economic stability of cooperatives and oil mills in the region. Despite achieving a production level of 31,224 tons in the current campaign, matching the average of previous years, the sector is still struggling to recover from a particularly poor 2022/23 campaign that saw production halve to around 15,000 tons. The drought has adversely affected both irrigated and rain-fed olive groves, with reservoir reserves in Catalonia critically low at 15.5%. The situation is precarious, and without substantial rainfall soon, the sector may not be able to recover the production volumes of past years. Additionally, the current stocks of olive oil in Lleida and Tarragona are not sufficient to prevent market tension between harvests.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Olimerca.- The olive oil sector in Catalonia is facing a real ordeal this year where drought and production shortages are weighing down the economy of cooperatives and oil mills. Although this campaign the production of olive oil has stood at 31,224 tons, on the average line of other previous campaigns, it must be remembered that the sector had just come out of a truly dramatic 2022/23 campaign when only around 15,000 tons. Some really complicated campaigns due to the significant lack of water in the reservoirs that supply the irrigation of 25% of the olive grove that is receiving this water aid. And the sector is facing a significant drought for the second consecutive year that is also taking its toll on 75% of the olive groves that are dry-fed. The current reserves of the reservoirs in Catalonia are at 15.5%, while the total capacity of the reservoirs in the internal basins of Catalonia has risen to around 700 cubic hectometers in the last days of rain in March. Only crops that ...
Source: OliMerca
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