Spanish olive oil sector sinks but continues to conquer emerging markets

Standing at 543 600 tonnes, Spanish olive oil production in the first four months of 2012/13 was 62% down on the previous season, according to Spain’s Olive Oil Agency. Producer prices on the Spanish marketplace have experienced a reasonable, logical increase. Olive Oil Agency surveys have in fact revealed that they have been excessively low in recent seasons and have not managed to cover production costs. According to the latest food consumption figures released by the Spanish agriculture ministry, in the current crisis setting olive oil consumption by Spanish households dropped 14 % in the last four months of 2012 while consumer prices rose by an average 10 %.