Bumper season for olive oil

The total output of olive oil from mills amounted to 1,318,439 tons up to the month of July. So far this season, there has been an increase of three per cent compared to the last one. It is nine per cent above the average of the previous four despite the slowdown in the olive market in recent months.

The olive oil campaigns begin on October 1 and last until September 30 of the following year.

The level of total stocks is 12 per cent lower than last season and stands at 640,483 tons, 355,645 of them in oil mills. The inventory data reflects a decrease of eight per cent compared to the average of the last four seasons.

In Andalucia, where 87 per cent of the stocks are located, the province of Jaen stands out, where almost half of the total stock is accumulated followed by Cordoba, with 19 per cent.

In the case of table olives, stocks stand at 387,937 tons, three per cent below the last season.

The olive pomace stocks have a level of 2,719 thousand tons of dry and wet fatty pomace, and the packers, operators and refineries have a total of 62,111 tons of olive pomace oil.

“It is foreseeable that good marketing levels will continue in the current market context, with prices that have shown slight downward adjustments in certain categories, while world demand remains stable,” the government said on August 13.

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