After hitting records, the price of olive oil (finally) go down
After reaching record values in the last two years, the price of olive oil fell 40%. The production growth of the last campaign for this descent is about 10%. Considered as the second best year.
After the last two years, the price of olive oil has reached historical values, as it is now common to resume due to a shortage of drought in major production countries.
According to data from National Statistics InstituteLast Olive Campaign in Portugal, This increased about 10% of the production compared to the previous year. Therefore, 2024 is considered the second best year with alive oil production of nearly two million hectoliters.
It is right to reflect on the price. According to Jornal De Nonniais, last April a The cost of an additional Virgin Oil bottle, an average of 6.80 euros, and 40% lower than the year beyond 11 euros.
And the evolution of this high price Co.NSUME has dropped more than 20%.
“Oil is a product of consumption and a product that increases its consumption and infamous product, and it is easily explained by breaking the product, which is not related to the ULATION Hogas, but mainly to break the product in the Mediterranean basin, and for two years, we have been trying for a big attempt.” Said Francisco Pao of Producers.
And with It is not difficult to recover the fall in the price of olive oil. However, it is The bottle practiced before the crisis should not be returned to the values of four to four euros Because product factors are very expensive.
