“We’re going to have to fry with water eventually,” complains an old woman. bookcase olive oils from the supermarket you trust. Usually the brand carried is dangerously close to 9 euros per liter and is the cheapest option. white brandIt is practically 7 euros. in this organization Barcelona in particular and at most five others from five different chains; It’s rare to see 5-liter bottles under 33 euros. Judging by the source price information it collects, Infaoliva (Spanish Federation of Industrial Olive Oil Producers)HE extra virgin olive oil It got 10 percent more expensive last month, but has increased 75 percent since March. And the trend repeats when: extra virgin And torch.
“The situation is extremely simple, the only problem lack of production; our harvest has been very low which is affecting the next campaign starting in October to be very low as well”, contextualizes Rafael Sánchez de Puerta, president of the Cooperativas Agroalimentarias de España olive oil sector. “There is a lack of product availability, and as with all activities, demand needs to be adjusted when supply drops,” he says, detailing that the surge in recent weeks has coincided with the moment when oil is available. upcoming campaign.
Because he and she Cristóbal Cano, President of the Small Farmers and Farmers Union (UPA) Olive OrchardAnd President of Girona Young Farmers Agricultural Association (asaja), Seagull Clospoints out that the excess of the previous harvest is one of the indicators that most invites pessimism. If it was last year connection (the amount they cover their backs during the harvest season) stood at 450,000 tons, around 250,000 this year, which is almost zero for them. This is attached to a tree that drags effects. two years in a row drought: ie less than 660,000 tons collected last year and of course 660,000 tons studied two years ago are expected to be recovered.
“The 2022-2023 season has closed with the worst harvest of the 21st century and the problem is getting worse because we will be chaining a second 2023-2024 campaign with some crops.” bad harvest forecasts, something that has never happened before in our industry, two bad campaigns in a row,” says Cano. In addition, “taking into account this Spain is the world’s first olive oil producer (We’re bringing together 50% of world production), this has clear ramifications for the markets,” he warns.
More demand than supply
According to the data taken by Interprofessional Organization of Spanish Olive Oil, European Union It is estimated that this year world olive oil production It will move around 2.5 million tons, up from over 3.3 million a year ago. This marks the first time volume has dropped below 3 million in six campaigns. Parallel to this, the same institution expects world consumption to be 2.9 million tons. “Low production and consumption, which is doing pretty well, is pushing prices up.” manager of this association, Teresa Perez.
“We always thought the problem would be redundancy, because production was increasing too much and there were many plantations being built, but now we find ourselves facing a problem. out of stock problem this hurts us a lot: nothing is worse than not being able to meet our customers’ demands”, complains Sánchez de Puerta. “We have long forgotten that we were talking here about what Spain produces for others to sell, and now we have no product left after we create it,” he concludes.
Solution? Nothing beyond the short term wait for the rain to fall. According to the second expert, in the medium term, a net irrigation policy and prevention consequences of climate change. On behalf of the person in charge of Olivar de la Small Farmers and Farmers UnionThe answer to the question must include management’s involvement in complying with regulations. production cost index It is aimed at creating a “real, agile and flexible structure according to the conditions of the day”. trade margin observatory.