Consumers’ pockets noticed for months rise price between oil. The increase that started to be noticed last October will end next September and its origin is a decrease in production after drought played last year. Now, liter oil around 9 euros And CPI It touched 39% for the month of July.
Forecast for a hike in olive oil
HE agriculture department revealed that olive oil production was made for this purpose. campaign 2022/2023 stayed in 675,093 tonsrepresenting a number 54.7% lower compared to the previous season. the bad thing The forecasts for the coming months are not positive either.. Experts point out that next season’s production will be well below normal.
According to this José Luis Ávila, secretary general of COAG Jaén and head of the coordinator’s oil sectorLack of water, high temperatures, and the “tremendous scarcity” of the product will make the price of oil remain expensive for several months.
Increase in olive oil price
HE agriculture department in charge of observing and collecting. national average prices to watch the oil campaign. Therefore, we know that in the first week of August, bulk extra virgin olive oil arrives. 100 kilos 753 euros. This is a 112% increase over last year. If we look at the prices of extra virgin olive oil, the price 100 kilos 696 euros (89% increase).
Despite high oil prices, farmers they don’t make much money because they don’t have enough product to make good profit. The forecasts for the next campaign, marked by drought and high temperatures, are just as negative. About Spain the world’s leading olive oil producer, however, it is estimated that “even adding up the productions of these two commodities in a row” will provide the average production. 1.4 million tons.