Olive Oil Market Digest w14

Weekly Olive Oil Market Updates

Price Updates

For this week, the Wikifarmer Marketplace transactions have provided us with valuable insights into the olive oil markets across major Mediterranean countries. We've curated these insights into a table showcasing mean prices, complemented by input from esteemed industry sources such as the Union of Olive Oil-Producing Municipalities of Crete in Greece, PoolRed in Spain, and Ismea Mercati in Italy. This collaborative effort aims to offer you a thorough and accurate depiction of the current state of the olive oil market.

In the Spanish market, prices continue to decline, particularly for Virgin Olive Oil and Lampante, with Extra Virgin Olive Oil also experiencing a less pronounced reduction. Conversely, as noted in last week's update, prices for lampante and virgin olive oil in Greece have displayed a slight upward trend. Nevertheless, the cost of extra virgin olive oil is declining, echoing the pattern observed in Spain. Meanwhile, the Italian market is witnessing a gradual decrease in prices, moving towards a point of stability.

Spain has been under massive rainfall for the past couple of weeks, filling up the reservoir and preparing the ground for a potentially great crop next season. Our experts highlight a general cash flow in need in the Olive Oil market. While purchasing activity has slowed, farmers are still eager to offload their existing stock and prepare for the forthcoming season. This trend and the low purchase activity of the past week have led farmers to gradually reduce prices, making olive oil increasingly attractive and accessible to the Spanish market.

Mediterranean olive oil is gaining traction in European markets thanks to its appealing health benefits, resulting in rapidly growing consumption rates. However, the absence of limitations on olive oil consumption could lead to insufficient carry-on stock until the next crop cycle. Consequently, this suggests a continued downward price trend for a brief period, followed by a potential increase if consumption remains steady.

Unlocking the Potential of Olive Oil Byproducts: A Sustainable Revolution

Science is taking significant steps to reshape the industry by researching the potential utilization of olive oil byproducts as a source of valuable compounds. This innovative approach aligns with the principles of the circular economy and holds significant promise for pharmaceutical and cosmetic applications.

Despite facing technological and regulatory hurdles, the industry is witnessing the emergence of ecological methods for extracting these byproducts, as olive oil mill waste (OMW) constitutes one of the biggest environmental problems. This research aims to mitigate environmental impact while preserving their rich antioxidant and bioactive content.

The potential of nutritional supplements derived from olive oil byproducts is vast from enhancing cardiovascular health to addressing inflammation. Similarly, the cosmetic industry stands to benefit from their antioxidant-rich properties, meeting the rising demand for natural and organic products.

As we navigate this landscape of sustainability and innovation, at Wikifarmer, we recognize the transformative power of every drop of olive oil, symbolizing both tradition and progress. Let's embrace a future where waste becomes a valuable resource and the beauty of nature intertwines with our daily lives. As an agricultural platform, we aim to educate producers on sustainable olive oil production throughout Wikifarmer Academy.

Wikifarmer negotiates with several suppliers to secure a steady supply of Olive oil at reasonable prices. Our team can help you with price negotiation, pay with credit terms, and arrange logistics and transportation. We also implement strict Quality Assurance procedures, making sure that producers provide us with all certificates that prove their claims about their products, and that all relevant analyses take place. 

Our contribution is not constrained just to the facilitation of value optimization for the various market players. We also invest a lot in making sure that our highly-valued partners, either from the supply or from the demand side, keep up with the latest developments in their fields.

This is why we have created Wikifarmer Academy, in order to offer affordable educational courses to all. The Wikifarmer Academy is an online school that aims to provide complete educational courses that will empower you and help you cultivate more efficiently and sustainably. In case you are interested in learning more, check our new course "Wikifarmer Expert in Sustainable Olive Oil Production, Quality, and Economics" here.