Thursday, April 12, 2012

Spanish olive oil production at record levels as prices hit record lows

The Spanish Olive Oil Agency reports that Spanish olive oil production during 2011/2012 has all previous levels and is 185,000 tonnes above the level of the previous year. Spain produces approximately 50% of the world’s olive oil.

Prices for extra virgin olive oil are down 13% in Spain (€1.75/kg) and 28% in Italy (€2.35/kg).
(Source IOC)