Olive Oil Market Digest w20

Weekly Olive Oil Market Updates

Monthly Movements in Spain

As anticipated, the market eagerly awaited this month's AICA report, given the heightened tension stemming from the Olive Oil shortage and surging consumption levels this crop season. The report centered on consumption, which had previously dipped below the monthly average but rebounded in April to 84,144 tons, encompassing both domestic and export figures. Total stocks, as of April 31, 2024, stood at 576,890 tons, combining crop yields and carryover. This season has yielded a total volume of 50,157 tons thus far, with 3,978 tons produced last month alone.

As predicted, this heightened consumption trend is exacerbating the strain on Olive Oil availability, particularly Extra Virgin Olive Oil (EVOO), with dwindling stocks of premium quality. With six months until the next harvest, this limited availability is poised to drive prices upward, potentially disrupting the market dynamics. The crucial question remains: will this price hike deter consumer purchases or curtail consumption volumes? Additionally, packers are strategically procuring stocks to prevent overstocking and minimize expenses. Stay tuned for an in-depth analysis of the Monthly Focus on Oils later this week, featuring insights from the Mediterranean Olive Oil market.

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.