Olive Oil Prices Expected to Halve After Record Highs

Deoleo predicts a significant price drop as weather conditions improve in southern Europe.

The world's largest olive oil producer, Deoleo, anticipates a 50% reduction in prices following a weather-induced crisis.
Extreme weather and droughts had severely impacted olive harvests in southern Europe, causing prices to soar.
Improved weather conditions are expected to result in better harvests, particularly in Spain, Greece, Portugal, and Tunisia.
Olive oil prices, which reached record highs, are projected to decline between November and January, continuing into 2025.
Spain's olive oil output is forecasted to rise significantly, contributing to the stabilization of the market.