Olive Oil Prices Set to Rise

The world’s biggest producer of extra virgin olive oil has warned that low harvests could mean major price hikes in the near future

Olive oil prices in the UK are currently the lowest they have ever been, but this is set to change as this year's Spanish olive harvest is significantly smaller.

Jeff Bayley, the UK representative for Hojiblanca Group, an Andalucian-based co-operative of more than 50,000 farmers, said, “With the harvest drawing to a close latest returns are showing that the Spanish olive crop is a fraction of previous years. It is forecast for 700,000 tonnes of olives in 2013 against 1.6 million tonnes last year, following a sustained period of draught. There will be a shortage of certain types of olive oil and this will definitely put upward pressure on prices.

“The current prices of olive oil are phenomenally low and would be unsustainable even if supplies were abundant. With a shortage on the way the current situation can't last.”

sign up to our weekly newsletter


Download SF on your device now! Available at Amazon Get it on Google play Download on the App Store
 
Elaine Lemm Talks Awards

Elaine Lemm Talks Awards

Estimated annual sales of local foods in England are in the region of £5.7 billion with around…

» read full article
Follow us @specialityfood
Copyright © 2013 Aceville Publications LtdAceville Publications Ltd is a company registered in England and Wales with the registration number 04109672. Registered Office Address: 82c East Hill, Colchester, Essex, CO1 2QW
Subs