Experts ask to wait until this month to buy olive oil at super-aggressive prices

He olive oil priceconstantly growing due to influence poor olive harvest in recent yearsamong other factors, will allow us to overcome the critical point between end of October and beginning of November, when Spanish oil mills begin to pack the next campaign’s harvest. Olive sector experts They predict a better harvest than last yearwhich could lead to normalization of prices due to greater availability of products.

The main unknown, as is usually the case in such cases, is knowledge. when and how will the price of olive oil fall?. With an estimated production of 1.2 million tonnes, no extreme temperatures this season and rainfall levels suitable for olive growing, Next year, supplies are expected to increase.

However, Olive oil prices at origin may begin to fall before consumers even notice it in supermarkets or stores.. In particular, from November to January, as long as weather conditions remain favorable. Despite this, the speed of their reflection on the shelves will vary, which will force retail chains to draw up an action plan to prevent customer flight.

Victor Roig, CEO of Deoleo in Spain, notes Independent that between September and November, Supermarkets will face complex price management and, he points out, it is quite possible that competition between them causes significant differences. Those who achieve good purchasing prices will be able to offer more competitive prices to their customers. while others will have to adjust their prices more slowly.

If he The price per liter at the place of origin is from 3 to 5 euros, the consumer price can be from 6 to 8 euros. Currently, the price of origin of olive oil is 7.49 euros/l, which is 29.3% higher than in 2023. Some brands reached 15 euros per bottle, and white brands from market share more than 60%, 10 euros.

Rising prices led to a reduction in consumptionbut not as dramatically as expected, although it is supposed to have happened lost a penetration quota equivalent to almost half a million homes. Between October and May, olive oil production reached 851,014.67 tons, 11% more than initially expected.