Prices for olive oil in Spain have risen dramatically since 2020, between 175% and 225% depending on the grade. This is mainly due to a continuous decline in production due to prolonged drought in the olive-growing regions of Andalusia and Catalonia. This drought led to a production decline of over 40 percent compared to previous years. In response to high olive oil prices, many consumers are switching to lower-quality oils such as orujo or even sunflower oil.
However, there is hope for a relaxation of prices, as rain and snow finally fell in Spain in March, leading to a promising flowering period for olive trees. A good harvest next winter could lead to a drop in prices, as oil mills would have to empty their stocks to make room for new production.
Prices at the producer level are already showing a slight decline, which is expected to be felt by end consumers starting in June. However, unforeseen weather events such as cold snaps or extreme summers could impact the harvest and thus continue to influence prices.
At Aceite del Campo, we promote the culture of extra virgin olive oil as a gourmet product that should be cared for and enjoyed like a fine wine.
Source: derstandard.at/story/3000000216839/olivenoel-ist-suendteuer-jetzt-keimt-die-hoffnung-dass-es-wieder-billiger-wird
Important Note: aceitedelcampo.com promotes the consumption of extra virgin olive oil for its culinary qualities and health benefits. However, no medication or current treatment should be replaced without the guidance of a healthcare professional.
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46023 Valencia
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