Prices are giving a battle against time

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The delayed Spanish production, for approximately one-month, will be giving Greek producers some breathing space

Spain is expecting a big production that may even bring 1650000 tons of olive oil, surpassing the 1550000 tons that we wrote about in July Mainly though, Spain expects a good enough production, quality wise, in comparison at least to last yearsrsquo 2017/18

Spanish olive mills are getting into production with a small, about a month, delay due to rainfalls that prevented harvesting This will cause a number of short-term consequences

a Spanish prices for extra virgin oils are going a bit up
b Italian producers are facing a dilemma Italy had a catastrophic year with 190000 tons, as olivenewsgr already wrote about last July This year they donrsquot have Tunisiarsquos big tank last year 280 tons, this year 160 thousand tons

Greece has the already known quantitative results of adverse climatic conditions, with 180000 tons but is also facing qualitative issues olive fruit fly and gloeosporium Therefore, Italians are making small, selective purchases, eg 3,30euro-3,35euro departure FOB from Crete when they find some good trucks, or even with 4euro, like in Metamorfosi Lakonias producersrsquo price and truck, variety Koroneiki, however Athenoelia variety holds on at 4,10euro

Greater supply, but at surely at lower prices, there is for olives with qualitative deficiencies, either with high acidity, organoleptic, or even erythrodiole/ ouvaole On November 12th we wrote on olivenewsgr about progressive improvement of quality and on prices, however the coming of mass Spanish production narrows down the waiting time frame for better quality

Regarding the vendors producers, olive mill owners, sellers the best principle is the following ldquoProgressive sales in order to take advantage of the demand, while it still manifestsrdquo
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