Olive Oil Market Enters New Phase
The world's largest olive oil company says the market is changing for good as global supplies face big swings.
The olive oil market entered a new phase. That is what the world's biggest olive oil company, Deoleo, states. This change means big shifts for global supplies. Analysts worry about how much olive oil will be available each year.
Weather plays a big role in these changes. Spain, a top olive oil producer, saw a hot, dry summer. This weather hurt olive harvests. This causes supply problems.
Changing weather patterns make it hard to predict future harvests. This makes prices uncertain. Consumers may see prices go up and down more often. The lack of steady supply concerns producers and buyers.
This new market phase means higher and more volatile prices for consumers. It also means less steady supply. Everyone involved in the olive oil market must adapt to these new conditions.
Source: CNBC