Olive Oil Crisis Eases as Top Producer Sees Harvest Surge.

OLIVE oil; PRICES; SUPPLY chain disruptions; FISH food; FISH as food

Spanish olive oil production is expected to increase by 48% this season, alleviating the supply shortage that led to higher prices in recent years. The Spanish Ministry of Agriculture, Fishing and Food forecasts that output will reach approximately 1.26 million tons, bringing Spain closer to its long-term average for olive oil production. This surge in production has caused prices to decrease by over 20% from their record highs. However, consumers may not immediately benefit from lower prices, as supply contracts are typically negotiated months in advance. The upcoming weather conditions could also impact production, as the harvest has just begun. [Extracted from the article]

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