Spain's Deoleo predicts olive oil prices will nearly halve due to better harvests next season.

Spain's Deoleo, the world's largest olive oil producer, forecasts that prices will nearly halve from record highs due to better harvests expected in the 2024-2025 season. Extreme weather and drought had severely impacted olive harvests, causing prices to soar. Although the crisis is not entirely over, Deoleo expects the market to stabilize, with prices falling to around 5 euros per liter, down from highs of 9 to 10 euros.

November 15, 2024
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