Spanish Olive Oil Market Situation (August 2024)

The Food Information and Control Agency has released data on the dynamics of the Spanish olive oil market at the source for the month of August, showing positive results. Even though the industry operated for only three weeks of the month, distribution figures reached a total of 70,572 Tm, not including the estimated 20,000 metric tons of imports.

August is about to end with a figure exceeding 90,000 metric tons in olive oil movements, highlighting the trade activity of Spanish olive oil companies. However, this commercial buzz is putting considerable pressure on the market, causing a rise in price tensions due to the gradual decrease in reserves.

By the end of August, olive oil inventories stood at 138,662 Tm in the mills and around 131,741 Tm in the hands of packers. It remains to be seen how the market will unfold in September and whether it will maintain figures from previous months like July or June, a situation that causes concern among both producers and consumers.

Olive Oil Prices at Source

Buying and selling olive oil wholesale (in bulk and bottled).