Tag Archives: Drought in Spain

Drought in Spain and elsewhere in the Mediterranean is stressing supply… Heat and drought in the Mediterranean are harming production of olive oil, causing its price to spike. The global price of the oil is now almost $6,000 per metric ton, according to data from the International Monetary Fund (IMF). That’s the highest since …

Country on track to produce less than 800,000 tons of olive oil this year, down from 1.4M in 2021… Alyssa McMurtry… OVIEDO, Spain The Spanish agriculture minister said Monday he was worried that olive oil could become a “luxury product” in Spain. “Gourmet products add a lot of value to …