Drought devastates Axarquia olive groves

SEVERE drought in Málaga and Axarquia’s olive-growing regions has led to a drastic drop in olive yields, forcing the early closure of several olive oil mills. Asaja in Málaga emphasises that the ongoing dry spell has caused farms to harvest only half the usual amount of olives compared to previous years. This significant decline in production is poised to greatly reduce the overall output of olive oil.

Olive Oil Prices Skyrocket Amidst Production Plunge

Consequently, the prices of olive oil have increased, reaching unprecedented levels. The economical picual variety, a type of olive grown in Spain with high oil content, now commands an origin price of €9 per litre, with retail prices soaring to around €15 per litre. Major brands like Coosur and Hojiblanca have even priced their products at €14.5 per litre, impacting household expenses and causing a decline in consumer consumption across Spain.

Experts Warn Against Panic Buying Amidst Uncertain Future Yields

Experts warn against panic buying, citing the unpredictability of future olive yields and advising consumers to purchase according to immediate needs. Despite hopes for increased production in other regions of Andalucia, the situation remains challenging in Málaga due to the scarcity of olives resulting from the prolonged drought. The industry faces an uphill battle as weather forecasts offer limited prospects for significant rainfall in the near future.

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