The 2016/2017 olive oil season has reached its equator with less than 900,000 tonnes of olive oil in stock at the end of March in Spain, according to Efe, the president of Jaencoop, Cristóbal Gallego, who also warns that it will arrive with A minimum campaign link. Gallego understands that the average monthly outflows of olive oil (the domestic market plus exports) amounts to about 125,000, so if at the end of February 990,200 of inventory was accounted for, the figure is below 900,000 Tonnes in the sixth month of the olive-growing year.
According to these data Gallego predicts a minimum campaign link, which could be around 200,000 tons of olive oil between this and next campaign, which will start from October 1. «We are thus faced with a fair link between one campaign and another, and with prices that remain stable, so we will have to see the influence they have on consumption in the second part of the campaign,» he says.
Spain will produce less than 1.3 million tonnes of olive oil in this campaign, of which around 1,050,000 have been obtained in Andalusia and 510,000 in the province of Jaén, the main producing area of the world.