The olive oil industry is facing a severe crisis as a result of the ongoing heatwave in southern Europe, with concerns mounting over a second consecutive disappointing harvest and potential supply gaps in the upcoming autumn season, according to The Guardian.
Spain, which accounts for roughly half of the global olive crop, experienced unfavorable flowering conditions earlier this year due to a spring heatwave. As a result, this year's harvest was initially projected to be only 28% higher than last year, which marked the worst yield in nearly ten years.
The International Olive Oil Council estimated Spain's production to reach 850,000 tonnes, a significant decline compared to the typical annual output of 1.3 million tonnes and last year's meager 660,000 tonnes. However, this forecast was made prior to the current period of exceptionally high temperatures.
There are growing concerns that the actual production may be even worse due to another heatwave hitting southern Spain, causing temperatures to soar up to 43°C. Such extreme conditions have prompted olive trees to shed unripe fruits in an attempt to conserve moisture.
Considering that the new oil from the autumn harvest is unlikely to be available until November and that the supplies from last year are expected to run out by September, there is a possibility of shortages in supermarkets during the autumn season, given the current consumption rates.
Spain, which accounts for roughly half of the global olive crop, experienced unfavorable flowering conditions earlier this year due to a spring heatwave. As a result, this year's harvest was initially projected to be only 28% higher than last year, which marked the worst yield in nearly ten years.
The International Olive Oil Council estimated Spain's production to reach 850,000 tonnes, a significant decline compared to the typical annual output of 1.3 million tonnes and last year's meager 660,000 tonnes. However, this forecast was made prior to the current period of exceptionally high temperatures.
There are growing concerns that the actual production may be even worse due to another heatwave hitting southern Spain, causing temperatures to soar up to 43°C. Such extreme conditions have prompted olive trees to shed unripe fruits in an attempt to conserve moisture.
Considering that the new oil from the autumn harvest is unlikely to be available until November and that the supplies from last year are expected to run out by September, there is a possibility of shortages in supermarkets during the autumn season, given the current consumption rates.