Spanish olive oil maker Deoleo says the most challenging time in the industry’s history appears to be coming to a close
The world’s largest producer of olive oil has said that prices for the so-called “liquid gold” are set to halve from all-time highs, making the cooking staple more affordable.Southern Europe has been affected by extreme weather and droughts in recent years, damaging olive harvests and leading to a historical spike in prices.
Miguel Angel Guzman, chief sales officer at Deoleo, told CNBC: “We are still going through a phase of tension in olive oil prices, especially in the higher quality oils, such as extra virgin. The International Olive Oil Council estimates that most countries producing olive oil, such as Spain, Greece, Portugal and Tunisia, will see a better harvest this year.
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