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Spain's olive harvest will be a third below the four-year average due to drought

Published Oct 12, 2023

Tridge summary

Due to a second year of drought in southern Spain, the country's olive oil production in 2023/24 is expected to be below average, leading to high prices for the product in the European Union. Spain, the largest global producer of olive oil, typically supplies about 40% of the world's production, but last year's heat wave and prolonged drought affected the olive harvest. The Ministry of Agriculture reports that olive oil production in Spain for the upcoming season is projected to be 765.3 thousand tons, a third below the average of the past four years.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A second year in a row of drought in southern Spain will leave the country's olive oil production below average in 2023/24, meaning the European Union faces another year of high prices for the product, according to official data. , writes ESM Magazine. Spain, the world's largest producer of olive oil, usually provides about 40% of global production, but a heat wave last spring when olive trees were in bloom and a prolonged drought led to a decline in the olive harvest. Olive oil production in Spain in the 2023/2024 season is likely to reach 765.3 thousand tons, compared to 663 thousand tons in the 2022/2023 season, when production was halved, but will be a third below the average of the last four year, the country's Ministry of Agriculture reported. In the Andalusia region, where about 70% of Spain's olive oil is produced, official forecasts show the harvest will be 40% below average. Overall, EU olive oil production in 2023/24 is expected ...
Source: Agronovosti
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