September 2018 - E.V.O.O. market report: Prices keep going down!

Buyers still haven’t returned from summer vacation…

We have entered the first month of autumn and everybody is preparing for the new olive harvest period.

The E.V.O.O. market shows no signs of recovery and it seems that the pressure at prices may intensify, at least for the next couple of weeks.  and there are three factors to explain the trend:

• First, the absence of international buyers in August – nothing unusual here.
• Second, there are significant unsold reserves that still remain in the tanks from the last harvest.
• Last but not least, the estimates for the upcoming harvest are highly optimistic.

As a result, the prices have the potential to plummet, at least during September. This trend may as well continue uninterrupted, unless there are game changing events in the E.V.O.O. market.

Predictions regarding the worldwide production of the new harvest period 2018-2019, according to IOC data, show that it could very well reach the levels of 3,1 million tons.

Will those estimates come true? If they do, we are looking at a rather satisfactory harvest year, considering that Spain seems to reach an overabundant harvest.

However, it will not be as great as the last one that admittedly set new limits.

So, fingers crossed to avoid disasters from intense natural phenomena and we are up for a smooth year!