The president of the Association of Industrial and Olive Oil Manufacturers (Infaoliva) of Jaén, Manuel Alfonso Torres, figure stocks 700,000 tons of olive oil in Spain, in June and expected to raise prices of product origin.
Torres has said the olive market is in a “process of adjustment” because it is “low production” in other countries, so that imports will be minimal from now. These low imports, coupled with the short harvest in 2012/2013, will motivate from next June to raise prices in origin.
Infaoliva provincial president has said that the olive oil market is currently paralyzed, with little purchase-sale of olive oil and average prices well below the 2.5 euros a kilo in origin. It also states that 90% of the remaining olive oil in Andalusia and Extremadura, and estimated that 700,000 tons are still marketed, 533,000 are in the mills and the rest in the hands of the Packers.
Moreover, Torres believes that it is premature to give an approximation of the next crop of olives, because “although it has started flowering and there seems to be a good example, we should expect the fruit set and the accompanying weather over these months ”
Source : MFAO