Fortunately we are facing the last week of the year with rains in the olive-growing areas. Almost 50 liters/m2 have been recorded in the producer area of “La Loma” (Jaén), so, we can say that December has been the rainiest month of this crop with 87 liters/m2 registered, what makes a total of 202 liters, counting from the month of September.
The this holiday week the olive oil market has been quiet and the actual price is 3,50 €/kg. for virgin olive oil and 3,55-3,57 €/kg. for extra virgin olive oil, while olive oils from Arbequina variety have been sold at prices around 3,60€/kg.
Mills have stopped working almost the whole week because of the rains. We estimate that there will not be changes in prices next days. and Production has been paralyzed almost all week by the rains and little can change the market situation in the coming weeks as some fresh oils are closing due to lack of storage or money and the intermittent collection, so we think that prices can be stable in the first days of the year.
The weather is playing an important role this month of December. Olive fruit is falling to the ground due to rains and strong winds. This fact will cause damages in the olive oils quality from now on.
We wish you all a happy holiday and new year 2.018. May all your wishes come true both personally and professionally.