Weekly Olive Oil Market Updates
As we enter March, the harvesting stage is expected to be completed. However, unfavorable weather conditions in leading European producing countries are causing unexpected delays. For this week’s European Olive Oil Market analysis, we have gathered valuable insights from our commercial team and Wikifarmer’s activity. To provide a clearer picture of market trends and price movements, we have also consulted our pricing tool, Price Insights, which offers real-time data on olive oil prices.
The weather in Spain remains exceptionally rainy, with forecasts predicting continued rainfall in the key producing region of Andalucía over the next few weeks. These weather conditions are expected to have a long-term impact on prices, making buyers more hesitant to purchase at this stage.
While the supply of fresh olive oil remains strong, packing houses are holding back, anticipating better prices in the coming months. Buyers in both Spain and Italy are also expecting further price reductions.
Regarding the next crop, cooperatives and producers indicate that it is still too early to make solid predictions, especially given the current rainfall, which could benefit irrigation during the summer months.
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