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The prices of the extra virgin will grow in the coming months

For Infaoliva the Spanish olive harvest may close worse than expected, to 600,000 tons, with a consequent increase of the price that could break the barrier of 3 € / kg

There is tension in Spanish olive sector that, thanks to the bad weather in recent weeks, could close campaign even more disappointing than the already meager expectations.

The incessant rains have indeed slowed harvesting operations but also increased the fruit drop fruit, with the result that for many growers, especially those who have delayed to come up a few more points of yield, it may become uneconomic to collect now.

According to Enrique Delgado, general secretary of Infaoliva, the Federation of millers and bottlers, estimates of 800,000 tonnes per hour are too optimistic because it does not reflect the real evolution of the campaign. The collapse of production could be far worse, coming in March to just over 600,000 tonnes, or returning to 1995 levels.

In addition to the adverse weather conditions in recent weeks, the whole climate of 2012 was a loss of the oil campaign. The heat and the drought has increased fruit drop and autumn rains have been insufficient to ensure a recovery of the olive.

Consumers do not realize, however, the decline in production under the Spanish stocks, which at December 31, amounted to 709,000 tons. Sufficient to ensure the level of global demand.

There will also be extra virgin olive oil on the shelves, but may be more expensive. According Infaoliva this year will reach 3.50 euro per kilo, an estimate dictated by the price on the last few weeks now over the threshold psychology of EUR 2.50 per kilogram after that, for most of 2012, the price is fluctuated around 1.60 euro per kilogram.

by Ernesto Vania
04 february 2013, World News > Europe

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