The fall in the price of oil causes people to start talking about speculative movements

The agrarian organizations have begun to alert of speculative movements before the fall of the price of the oil of extra virgin olive oil 17% in the last weeks, to root especially of the last episodes of precipitations. The price of the product peaked in mid-October, coinciding with the change of campaign, when the kilo was paid at 3.78 euros; last week, according to the report of the agrarian situation published every seven days by the Ministry of Agriculture and Fisheries, Food and Environment, the kilo was paid at 3.125 euros, the equivalent of 17.7% less.

The Agrarian Association of Young Farmers (Asaja) and the Union of Small Farmers (UPA) have already warned that the biggest falls have occurred during the month of March; thus, for example, between week 11 and 12 of the campaign, the kilo of oil lost a value of 10 cents.

THE PRICE FALLS AT A KEY MOMENT, SINCE THE MILLENGERS NEED TREASURY URGENTLY

The delegate of UPA in Córdoba, Miguel Cobos, has assured that “there are no objective reasons” for a fall in the price of oil, beyond “speculative movements” led by the “large packaging and distributors”, which provide ” without any foundation “great harvests in the next season as a result of the last rains. “Buyers are resisting and the olive oil sector is very fragmented in Andalusia, so the direct consequence is that prices are falling out of control,” he warned. Cobos stressed that, except for Dcoop and Almazaras de la Subbética, in Cordoba and by extension in the Andalusian community do not operate large vendors, so he called for “the producers are organized,” according to Angel Robles in eldiariodecordoba.es .

The moment in which the fall in the price of oil is occurring, on the other hand, is “key” for oil mills, which need “urgently” treasury to be able to face the costs derived from phytosanitary treatments or pruning that the olive grove requires at this time of year, explained Cobos.

In similar terms, the president in Cordoba of the Association of Young Farmers (Asaja), Ignacio Fernandez de Mesa, who on the other hand warned of the fall of domestic consumption in more than 10% and exports, of between 5 and 6%, in favor of the oil obtained from the sunflower.

 

Autor entrada: Francisco Camacho