FEBRUARY 2023 Spain’s output shortfall by 50% during the 2022-23 harvest in progress, along with Italy’s 30% drop, has sent prices through the roof. This is a shortfall of nearly 1 million metric tons in global compared to last year’s ~3 million. Prices for Extra Virgin Olive Oil are currently...
Category: News
If you are sourcing Olive Oil from Europe, note last month’s launch of the new European Union Regulation on Truthful Labeling to combat deceit and fraud. The anticipated supply shortage of olive oil in 2023 has driven producer auction prices in early trading to over $5/liter, double the pre-covid levels. ...
19 March, 2022 The European Union estimates member countries 2022-23 olive oil production to drop to 1.5 million tons and global to 2.6 million sinking to under 3 million for the first time in 5 years. As a result, producer prices for EVOO now exceed $5/liter, double the pre-covid levels....
The worst drought in Europe in 500 years is expected to lower the yield to only 1.7 million tons in the 2022/23 crop year Growers in Spain, the world’s largest olive oil producer, predicted a 50% decline in production. Meanwhile, authorities in Tunisia, Italy and Portugal also anticipate significant production decreases this year. The Italian domestic...
It was a regular year. Looking at the five-years production average, E.U. olive oil production grew by 11 percent in the 2021/22 crop year. Spain was expected to contribute 66 percent of the yields with 1.49 million tons in the current season, followed by Italy with 15 percent (328,000 tons)...
