Olive Oil Market Situation in Spain (June 2024)

The olive oil market has shown positive trends in June, despite starting the new season with limited reserves. According to data provided by the Food Information and Control Agency and the Ministry of Agriculture, olive oil sales have reached 76,500 metric tons this month.

Reviewing the figures released in June, we see that mills have reserves of 251,521 metric tons of olive oil, while producers and bottlers have 162,179 metric tons in their storage facilities. Meanwhile, the stocks held by the Communal Olive Heritage are not very active, containing only 1,323 metric tons of oil.

Overall, the olive oil industry has a total volume of 415,023 metric tons available to get through the transition period between seasons. This amount is just adequate to meet market demands during the remaining three months of the olive campaign (July, August, and September), as well as October, which is a month of lesser significance in terms of production.

It will be a challenge to maintain supplies until the arrival of the new harvest, which presents a scenario where oil from the previous season is more expensive compared to the new oil, which is expected to be more affordable.

Olive Oil Prices at Origin

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