Olive Oil Industry: Renewal Needed for Sustainability

By: Trademagazin Date: 2024. 05. 03. 11:03

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There has been a longstanding demand within the olive oil industry for sectoral renewal to ensure sustainability. According to a CNBC report, this year could be pivotal for the industry. Olive oil producers are currently facing multiple challenges including an increasingly arid climate, high fuel prices, high interest rates, and significant inflation, especially in Spain which accounts for 40% of the world’s olive oil production.

These issues have caused prices to skyrocket, with costs in Andalusia reaching up to 9.2 euros per liter. Recent rainfall has improved conditions somewhat, but industry leaders from brands like Deoleo, Bertolli, and Carbonell believe this improvement is temporary. They emphasize the need for further development and modernization, particularly in olive groves sensitive to climate change. Angel Guzman, sales director at Deoleo, stresses the importance of focusing on sustainability, innovation, and quality to meet consumer demands.