The MAPA forecasts an olive oil production of around 1.3 million tons. for the 20-21 campaign
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  • The MAPA forecasts an olive oil production of around 1.3 million tons. for the 20-21 campaign



Olive oil production will be around 1.3 million tons, a figure that indicates stability in production and the market in the 2021/22 season, in line with the average of the last four and slightly below the previous. These forecasts, made from the gauges communicated by the CCAA and the data of the sector itself, were revealed yesterday at the Sectorial Table of Olive Oil and Table Olives, which brought together representatives of the sector and the Ministry of Agriculture , Fishing and Food (MAPA).

According to the data provided by the MAPA, oil production will experience a slight decrease in all the Autonomous Communities, except in Extremadura, where a record harvest could be obtained. In the case of table olives, which are in the middle of harvest, the forecast of 570,000 tons would imply an increase of 5.7% compared to the average of the last four seasons and 4.3% compared to the previous.

Likewise, in this meeting the balance forecasts for the entire campaign were studied, which "would suppose a sufficient level of resources to meet the demand for olive oil on the national market and exports, which do not foresee large changes in prices. ".

In his opinion, these data show that it will not be necessary to activate the olive oil withdrawal mechanism (Article 167 bis of the Community Regulation), since there are no indicators of possible risks of imbalance in the national market.

In fact, according to the Ministry, the lack of rainfall in recent months and the possibility that this situation may have a downward influence on production forecasts, further reinforces the idea of not resorting to the withdrawal mechanism contemplated in the marketing regulations. of the oil. This measure is part of the decalogue that MAPA presented in June of last year to rebalance supply and demand.

Likewise, the closing data for the 2020/21 olive growing season were analyzed, in which, with a total of 1,634,900 tons, marketing levels were similar to the previous one and close to the record for the 2013/14 season. In addition, it was stressed that the suspension of United States tariffs on Spanish agri-food products, last March, has had an immediate impact on exports of Spanish oil and olives to the North American country.

At the same time, the recovery of the domestic market stands out, which, with a total of 551,000 tons, reaches the highest figure in the last eight seasons. Exports, with 1,084,000 tons, have exceeded the average by + 9%, but have been slightly below the previous season by -3%.

Regarding olive oil prices, in week 41/2021, they remained at levels similar to the average of the last campaigns, 52.4% higher than those registered in the same week of the previous season. For its part, in that same week, the average prices of raw table olives stood at 68.35 euros / 100 kg. Depending on the variety, the prices range between 120 euros / 100 kg. for the fat and 57.87 euros / 100 kg. for the hojiblanca.




Source: Mercacei

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