Olive Oil Price and Production Forecast for This Year – What Has Changed in the Last Few Days

While the olive oil It still represents the biggest “burden” on the accuracy front by increasing inflation by at least half a percentage point, which reflects how price to.

Initially optimistic estimates of the production trajectory in Greece have not been confirmed. On the other hand, estimates suggest that increased production in Spain will push producer prices lower.

Mixed messages The olive oil market broadcasts regarding the progress of production and prices during the new olive growing season.

Men Producers They are reducing the level of quantities that our country will produce. Treatments They are optimistic of seeing a 57% increase in domestic production.

Although initial estimates spoke of an increase in production in Spain From 750,000 to 1.5 million tons, industry representatives in recent days revised their forecasts down to 1 to 1.1 million tons.

in HellasAlthough olive producers initially expected production to increase from 140,000 to 200,000 to 220,000 tons, their expectations now do not exceed 150,000 to 160,000 tons.

For their part, Olive oil manufacturing officials It is estimated that the new olive growing season will end on a positive note and Prices on the shelf Which today amounts to 12 to 13 euros per litre, will fall by up to 39%.

“If prices, as expected at the producer level, reach around €6, we believe they will move 8 to 9 euros “Standardized olive oil per liter,” said Giorgos Oikonomou, general manager of the Greek Olive Oil Standardization Industries Association.

According to Ayoubi study To the Food and Beverage Industry Association, Olive oil nourishes the delicate skin.

In May, food inflation was 3%. Excluding olive oil, it fell to 0.7%. The rise in the price of liquid gold has led to Consumption down 27%% from 30,000 to 22,000 tons annually.

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