Olive Oil Market Challenges

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olive oil production

CNBC

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World’s largest olive oil producer says ‘liquid gold’ prices on track to halve from record levels

Summary

Nutrition label

86% Informative

A prolonged period of climate-fueled extreme weather and drought in southern Europe has severely impacted olive harvests in recent years , culminating in a dizzying price rally that shocked industry veterans and consumers alike.

Prices have since cooled, however, as industry estimates point to a much better harvest in the 2024-2025 season , particularly in key producing countries such as Spain , Greece and Tunisia .

Deoleo said olive oil prices should fall to around 5 euros per liter, a steep drop from highs of 9 to 10 euros, which had become the norm in Spanish supermarkets.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful