HE olive oil extra virgin can become about 20 cents more expensive in Aprilreaching 5.50 euros Per kilogram for the producer if there is no precipitation this month. This is the estimate of the Small Farmers Association, which is the secretary general of the state. Miguel Cobosclaims that current price is about 5.30 euro per kilogram, which is also the highest since 2012 when it exceeded five euros, and about two euros above what was recorded a year ago.
extra virgin It was listed as 1.80 euro at the beginning of 2020., as this expert recalls. However, forecasts of a bad harvest caused prices to start climbing last summer. They are now “covering production costs and leaving a not very high profit margin because production costs have increased and it has been a very bad year. Price increase does not compensate for 50% decrease in production compared to the last campaign”, the UPA secretary general approves.
On the other hand, this is a About 20% reduction in consumption in Spain. Miguel Cobos says “high prices” have led some customers to buy cheaper greases. When the price drops, we go up to 600 thousand tons, and when it gets expensive, we go up to 500 thousand tons of domestic consumption,” he said.
So, regarding oil stocks, this professional recalls: 400,000 tons left as campaign link700,000 units were produced (145,000 units in Córdoba) and Spain imports oil from Algeria, Tunisia, Egypt or Portugal. “We carry more than 200,000 imported tons So far this campaign that started in October. We can still import more,” he continues.
With this, Domestic consumption is guaranteed and participation in foreign sales is ensured.. “Spain has consolidated markets abroad and will have no problems sourcing them,” he states. In this regard, he admits that exports are protected, but “they are also affected” by the high prices. Regarding the price forecasts for the coming weeks, the UPA Secretary General said, “the oil sector is very sensitive to any movement. If it rains in April and a good flowering is expected, the price will gradually decrease. The forecast for the next campaign rises if it is worse”. As such, it “is currently estimated at 5.30 euros per kilogram collectively for the producer. If it rains it can go as low as 5.20 or 5.10 euros but it can go up to 20 cents if it doesn’t rain“.
In store, from 6 euros
Regarding the effects of this increase on supermarket shelves, Miguel Cobos says, “sometimes (soot) absorbs the increase and other times it takes time to arrive, because bought at previous prices”. In any case, extra virgin olive oil can already be found in the store from six euros per kilogram, although it is the highest quality in this category. They sell for 8 to 10 euros per kilogram, depending on factors such as product packaging.
never seen prices
on your part, Macarena Sanchez del Aguila“It is possible that prices will continue to rise,” said the director of Asociación Almazaras Industriales. If it doesn’t rain, the upcoming campaign will sufferwe’re going to have a problem”, he confirms. However, “this rain forecast for next weekend And in that case, prices will likely hold up.”
This is professional extra virgin price at source 5.2 euros per kilogram; virgin 4.87 euro and no lampante price as there is not enough operation. A year ago, according to PoolRed directory, extra virgin was EUR 3.48; virgin, 3.38 euros; and lampante, 3.18 euros.
Macarena Sanchez del Águila”It is unknown how much the price will rise.. How much is the consumer willing to pay”. However, “in the transforming producer sector, we think that the best we can have is stable prices and that they do not exceed the normal price by much. These prices have never been seen before.” In this regard, “The last extreme price increase was in peseta and it amounted to 700 pesetas. These sharp rises have never been seen beforeHowever, the production conditions caused them because not enough oil was produced to meet the needs of the market.