The shortage of olive oil in the EU has opened up opportunities for rapeseed

EU olive oil producers received 1.4 million tonnes of production in 2022/23, which is significantly less than the 2.3 million tonnes produced last season. Spain, the largest producer in the world, harvested only 660,000 tons of olives instead of the usual 1.5 million tons, UkrAgroConsult reports. In Italy, the olive harvest in 2022/23 was 37% lower than last year. It is predicted that Italy will produce 290,000 tons of olive oil in the 2023-2024 season. This is 20% more than a year earlier, but less than the four-year average of 302.5 thousand tons. The reason for this situation was the weather. In the spring, Spain was particularly affected by the drought, the heat during flowering prevented the fruit from setting. There were floods and storms in Greece. Bad weather has hit North Africa and the Middle East. In Germany, olive oil prices rose by 43.5% in November. However, in general, cooking fats and oils turned out to be 11.5% cheaper than a year earlier. Butter fell in price by ...