Spain is concerned about the sharp increase in the price of olive oil. Consumer organizations are increasing pressure on the Spanish government and warn against “speculation”.
The increased price of olive oil “is what currently worries families most,” Spanish Economy Minister Nadia Calviño acknowledged on TV channel ‘La Sexta’ on Monday. Olive oil is “the basis of Spanish cuisine”. Therefore, companies should “make efforts” to “control prices.”
Up 42 percent
According to consumer organization Facua, the price of olive oil has risen by 42 percent since the beginning of the year: from 6.91 euros/liter at the beginning of January to 10.34 euros/liter in September. OCU, another consumer organization, adds that the price is considerably higher than in neighboring countries. In Portugal, olive oil is just over a quarter cheaper, in France it is 16 percent cheaper.
Olive groves in Chiclana de Segura. As an example. © REUTERS
According to OCU, the Spanish Ministry of Agriculture must therefore “take the necessary measures to control the production chain, by guaranteeing that no abuse takes place and by investigating possible speculation”. In mid-September, Calviño indicated that he was not aware of any illegal practices in the sector.
Historical drought with heavy impact
Spain has suffered a historic drought over the past two years, which had a serious impact on olive oil production. Yields in 2022-2023 fell to 673,000 tonnes, less than half of the previous year, Agriculture Minister Luis Planas said on X (formerly Twitter).
According to him, the yield would be slightly higher this year, thanks to the rainfall in recent days. However, the harvest would still be below the symbolic mark of one million tons.
Olive groves in Chiclana de Segura. © REUTERS
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2023-09-19 12:45:23
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