Requested product: Spanish-produced olive oil.
Foto:
Bernat Armangue / AP
Due to a severe drought and a consequent poor olive harvest, the prices of olive oil in Spain have significantly increased. Consumer advocates and the government in Madrid are now concerned about the supply of this staple food to consumers. Minister of Economy Nadia Calviño called on all involved economic actors to make a joint effort to keep the prices under control.
According to the consumer organization Facua, the price of olive oil has increased by 42 percent since the beginning of the year – from 6.91 euros per liter in January to 10.34 euros in September. This price hike is currently causing great concern among Spanish families, stated Calviño. Olive oil is considered to be the essential ingredient in Spanish cuisine.
The consumer organization OCU issued a warning about price speculation. Currently, olive oil in neighboring Portugal costs 27 percent less. Similarly, prices in France are reportedly 16 percent lower than those in Spanish supermarkets. The Spanish Ministry of Agriculture should monitor the production chain and „ensure that no abuse occurs.“
Hoffnung auf Besserung
Last week, Minister of Economy Calviño assured that she was not aware of any abusive practices in the sector. The price increase is due to an imbalance between supply and demand. In Spain, per capita consumption of olive oil is much higher than that of its neighbors.
Zugleich ist Spanien der größte Olivenproduzent weltweit. Die Ernte in der Saison 2022/2023 war nach einer extremen Dürre jedoch mit 673.000 Tonnen halb so groß ausgefallen wie der Durchschnitt der vorherigen Jahre. Landwirtschaftsminister Luis Planas geht für die Saison 2023/2024 von einer Besserung aus. Die Schwelle von einer Million Tonnen werde voraussichtlich jedoch erneut nicht erreicht.