아르헨티나 오일 및 지방 인사이트

Global olive oil production forecast to recover in 2024/25 Global olive oil production in 2024/25 is expected to reach almost 3.1 million tonnes, up 27 per cent from last year.

Key moment, with two possible scenarios for prices. Oil futures rose 8% in the last three days Flour fell 16% in a month.

Application of stricter regulations and production standards in order to protect the authenticity of extra virgin olive oil on the European market, as well as a ban on mixing the product with other vegetable oils, asks in an opinion report the president of the Copa-Cogeca working group on olive oil, Fernando do Rosario. The EU is the world leader in olive oil production, accounting for 65% of global production. However, adverse weather conditions have severely affected recent harvests, with production in 2022/23 down 40% on previous years and 2023/24 down 25% compared to the five-year average . This reduction is also reflected worldwide, causing prices to rise by 100% to 175% for extra virgin olive oil, depending of course on the market. In this context, consumers tend to prefer cheaper alternatives, while traders may be tempted to offer lower-cost options, thus increasing the risk of fraud in a market known for its quality and centuries-old traditions. Unfortunately, fraud in the olive oil sector is not a new threat. Olive oil is a high value product and the temptation for unscrupulous actors to maximize profits at the expense of consumers and product quality remains. When consumers are not familiar with the differences between types of olive oil, fraudulent practices become even more prevalent.