October 2018 - E.V.O.O. market report: Where is the end of the tunnel?

The E.V.O.O. market remains quiet…

Nothing seems to be able to shake the buyers that continue to show no interest.

At this point, producers should be preparing their tanks for the new harvest, but there are still large quantities of unsold olive oil (this figure may be as high as 60.000 tons!).

So, we are facing two scenarios: The good one is that the price will plummet, in order to sell the last year’s olive oil. And the bad one is that the sellers will hold their position and inevitably adulterate the fresh olive oil, hoping for higher prices in December.

Unfortunately, we will most certainly face a mixed case. Some producers will sell cheap, but others will sit on their full tanks.

As a result, prices are expected to drop further, but not at the massively expected level.

But the buyers should not smile upon these predictions, as the market will suffer from quality degradation, due to adulteration and also due to the Bactrocera oleae (more commonly known as the olive fruit fly), which has been reported at several oil producing areas.

Oh my, we love the years that the E.V.O.O. quality is so much depending on the producers’ responsible practices!