High olive oil prices remain a concern for consumers due to adverse weather conditions affecting harvest yields. In Spain, however, a recent decline in prices offers some relief. The harvest season in Cordoba has shown signs of recovery, particularly for the Arbequina variety. While production increases may stabilize prices, the threat of climate change prompts a focus on resilient olive varieties and improved water management. Research efforts aim to support sustainable practices for future generations of olive farmers.
Olive Oil Prices and Harvest Trends in Spain
Consumers are still facing high prices for olive oil, largely due to severe heatwaves and droughts that have adversely impacted harvest yields. However, recent developments in Spain indicate a decline in prices, bringing a glimmer of hope for buyers.
Current Harvest Conditions and Future Challenges
As the olive harvest season approaches its end in the picturesque hills of Cordoba, the sound of machinery gently shaking olives from trees into nets is becoming increasingly rare. At the farm owned by Belen Luque and Rafael Gálvez, the focus is on collecting the Arbequina variety, which has suffered immensely in the past year due to an early-season heatwave that coincided with flowering. This unfortunate event resulted in a drastic reduction in production, with the farm yielding only half of its typical output of 14 million kilos.
For two consecutive years, the production has been described as ‘miserable’ by Belen. Fortunately, the current season has shown signs of recovery, allowing them to produce a satisfactory amount of high-quality olive oil. Their farm spans 300 hectares and is now operating organically, a pioneering effort initiated by Belen’s father, who aimed to avoid using harmful chemicals on the trees.
With the mills in Spain buzzing once again, the increased production is expected to influence global olive oil prices. Despite this positive trend, Germany still reports a 37 percent increase in olive oil prices compared to last year. In contrast, Spain has witnessed a significant drop, with the cost of 100 kg of ‘Virgen extra’ olive oil plummeting from 896 euros to 444 euros over the past year, providing some relief to consumers.
While the olive oil market shows signs of improvement, the looming threat of climate change raises concerns for the future. Belen Luque emphasizes the need for the industry to adapt by finding more resilient olive varieties and improving water management strategies. Researchers at the University of Cordoba are actively investigating which olive varieties can withstand the challenges posed by climate change, focusing on hundreds of olive species worldwide in their quest for sustainable solutions.
As inquiries pour in from countries like Belgium and Bulgaria seeking cold-resistant olive varieties, the UCOLIVO research group remains committed to establishing breeding programs aimed at enhancing drought and heat resilience. The hope is that these advancements will support olive farmers across the Mediterranean, including Belen and Rafael, who dream of passing their legacy to the next generation. Despite setbacks in smaller growing regions like Catalonia and Valencia, the future of the olive oil industry remains a crucial topic as stakeholders seek to bolster production and ecological sustainability.