This week the reduction in prices that had been taking place for almost two months in the olive oil market at origin ended. The reasons for the price increases these days are almost the same as months ago, after the inexplicable decreases of the last 8 weeks. However, it could be understood that the market is readjusting in light of the short availability of olive oils in general and lampantes and extra virgin oils in particular.
At the same time, the first estimates made about olive oil shipments in the month of April affirm that they could reach 100,000 tons, including imports, and this undoubtedly weighs on the producing sector, which sees that stocks of its wineries are becoming more limited and in parallel there is greater purchasing interest on the part of industrial packaging companies.
On the other hand, those speculators who bought olives or oil at higher prices, around 9 euros, have now decided not to sell and prefer to wait for the most appropriate moment so that the sale of that oil does not cause a disaster. economic. This means at the same time a lower supply available in the market at origin and consequently greater upward price pressure.
In summary, at the end of this week the prices at origin for a lampante oil could move in a range that goes from €7.00 for a genuine lampante, which is in significant scarcity, to €6.80/kg depending on its physical and chemical characteristics.
Something similar is happening with extra virgin olive oil. The prices that could be found ranged between 8.10e/kg for the highest quality and 7.90€/kg
SOURCE: OLIMERCA
2024-04-29 16:12:44
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