Spanish Pomace Olive Oil Prices Advance Gains Over the Week to 131.04/kg

Pomace olive oil prices have snapped some gains and advanced on that trajectory since the first week of June. The Tridge crude pomace oil of Jaen origin has gained 7% to start the week at €131.04/kg.
Pomace olive oil prices have snapped some gains and advanced on that trajectory since the first week of June. The Tridge crude pomace oil from Jaén has gained 7% to start the week at €131.04/kg. Lower levels of olive oil stocks this year compared to the 2021/22 marketing year and continuously poor harvests are keeping the olive oil market very tight. World olive oil production is still forecasted at 2.49 million mt down 27% versus production in 2021-22. The bottom of the market is seen to have been reached and thus, will not follow the direction of other vegetable oils.