More rises on the way
Olive oil prices have stabilised, however the feeling in the industry is that once Spain has finished processing and no longer needs the cashflow, further increases will be seen.
Growers are already speculating on the knock on effect for next season. Many trees have been damaged by frost and so will not produce next year, and hand and hand with that is the prospect of no carryover stock.
One industry source told The Grocer: "My reading is that too many factors favour the supply side this year and we will be faced with a rising market.
"But with regards to next season I think speculation is a little premature."
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