Thursday, June 20, 2024

January 2024 Olive Oil Balance in Spain: Optimism Abounds in Production and Sales

consumption (sales) not only remains resilient but has also increased to 84 thousand tons

In a recent revelation from the Spanish Ministry of Agriculture (AICA), the latest update on the olive oil balance as of January 31, 2024, resonates with a resilience reminiscent of a Clint Eastwood-style old western – an indomitable spirit akin to ‘Too Tough to Die’!

Defying all odds, olive oil production has exceeded expectations, soaring to an impressive 775 thousand tons. What adds to the significance of this achievement is the encouraging news that consumption, or sales, not only withstands challenges but has also experienced a notable uptick, reaching 84 thousand tons. This surge in demand is particularly noteworthy as it absorbs the impact of elevated prices now prevalent on supermarket shelves.

Commercial period 2023/24 January 2024  December 2023
Sales 84.048 66.192
Monthly Production 185.020 321.175
Total Production 774.653 584.780
Stocks in olive mills 547.310 462.424
Stocks in packagers 184.284 165.363
Stocks in Patrimonio 3.834 3.959
Total Stock 735.428 631.746

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