This week prices remain in the same level than the previous days. The price for virgin olive oil is being at a low level, 3,45€/kg-3,50€/kg. While, as we expected, prices for extra virgin olive oils remain highs, around 3,60€/kg.-3,65€/kg.
If the harvest of olive fruit keeps on, with no stop, the ninety per cent of the total olive fruit well be finally collected in the largest olive oil producers areas of Spain by the end of January.
In Spain, olive oil production is estimated to be 1.200.000 tones for the current campaign. In Italy oil production is anticipated to be 320,000 tons, while Greece is expected to produce 280.000 tons and Tunissia could make 320.000 tons. In total, 2.900.000 tons are expected to be produced in the global market.