Agriculture estimates final stocks of olive oil at 247,284 tons

This volume, together with the imported volume, ensures the supply of the markets during the first months of the current campaign.

MADRID, 13 Oct. (EUROPA PRESS) -

The final stocks of olive oil after the end of the 2022/23 campaign have stood at 247,284 tons, according to the data from the latest preview of the situation of the olive market from the Ministry of Agriculture, Fisheries and Food, which contains the data available at 11 October of the Olive Market Information System (SIMO), which collects monthly information related to production, movements and stocks held by operators in the sector.

In this way, with this volume of stocks, together with imports, it will be possible to meet the needs of the markets during the first months of the new 2023/24 campaign - which began on October 1 - and until the new one becomes general. harvest.

The first capacity estimates for this campaign place Spain's production at 765,300 tons, 15% more than in the previous campaign, but still 34% lower than the average of the last four.

The latest advance from the sector, which contains information on the closing of the 2022/23 olive season, indicates that, despite the low production levels, a sales rate of 83,000 tons per month was maintained last season.

This advance also reflects the market situation for table olives, whose campaign begins at the beginning of September. With data as of the 30th of last month, the recorded production is 166,498 tons.