2023-10-26 19:20:46
The price of olive oil It will remain cloudy until at least next June. Only then could he “start to relax”, as long as spring comes with rain, according to the CEO of Deoleo (the leading Spanish multinational in the market that integrates brands such as Carbonell and Hojiblanca), Ignacio Silvaat the 38th Consumer Congress that is being held in Zaragoza until this Thursday.
The CEO of the company has explained that the weather will play a key role in the price, because if it rains enough in April and May, when farmers see a rainy spring, “los prices They could start to relax,” explained the manager, who added that this will be the turning point that will lower prices.
The harvest planned for 2024 throughout the country is 750 million kilos“although it could reach 800 million” thanks to the latest rains, Silva explained, pointing out that in the month of January the total production for the course is already known because most of the olives are harvested between October and November, so the situation will not be very different from what we have now.” It will represent a notable increase compared to the 600 million kilos of olives in 2023 compared to the 1,200 million harvested in 2022 for the production of olive oil.
All of this has led to an inflationary situation that triggers production costs. Just four years ago, a ton of oil was paid at 2,200 eurosaccording to the data reported by Silva, while now it has shot up to 8,000 euros.
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The CEO of Deoleo has claimed the role of the entire value chain of the sector “in the most difficult cost situation in its history” to contain the impact of inflation on consumers. “The value of a ton of olive oil has tripled since 2019 and, however, its price in the supermarket has not multiplied by three,” said Ignacio Silva, to insist that “this situation is abnormal” and that “We will once again have harvests of more than a million kilos that will allow prices to return to normal.” The CEO of Deoleo has also explained that, despite the fact that there are currently drops of up to 20% in the consumption of olive oil, “there is no transfer to other types of oils in Spain, where there is a lot of attachment to the product.” .
“Deoleo is not for sale”
The CEO of Deoleo was blunt about the news reporting that the multinational he directs had announced to the CNMV that it was sounding out markets. “Deoleo is not for sale”he assured.
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