Jusanji Spain Records Historic Heatwave
Olive Oil Price Expected to Rise
The olive oil industry is facing a crisis as unprecedented heatwaves continue in the southern regions of Europe, the main olive-producing areas.
On the 17th (local time), the British daily The Guardian reported, "Due to the heatwave, Spain's olive harvest, the main production area, is expected to record poor yields for the second consecutive year."
The Spanish Meteorological Agency recently forecasted that the maximum temperature in the southern region would exceed 42℃. Spain accounts for nearly half of the world's olive production. This year's olive harvest is expected to increase by only about 28% compared to last year, which recorded the worst poor yield in nearly a decade due to the heatwave during the flowering period.
The International Olive Council estimated Spain's olive production this year at 850,000 tons. Although this is an increase from last year's 660,000 tons, it falls far short of the average annual production of 1.3 million tons.
The International Olive Council's estimated production figures were released before the summer heatwave intensified, with temperatures rising to 43 degrees Celsius this week. The Guardian reported, "There are concerns that the actual harvest volume could decrease further."
Earlier, the Spanish Meteorological Agency forecasted that temperatures in the Canary Islands and Andalusia would exceed 40 degrees Celsius for three days starting on the 17th (local time). In the southern Spanish village of Villarrobledo, temperatures soared to 47 degrees Celsius.
According to the media, Walter Zanre, head of the UK branch of Filippo Berio, the world's largest olive oil producer, stated that while Spain's crop is expected to be poor this year, no one knows how bad it will be. This reflects concerns about the record-breaking heatwave hitting southern Europe.
Zanre also mentioned that while there were carryover stocks last year, there are none left this year. He analyzed that with olive production in Italy and Portugal also expected to decline, even if Spain produces the anticipated 850,000 tons, olive oil prices are bound to rise.
He pointed out that the current stock is expected to be depleted by September this year. If current consumption continues, there is a possibility of a shortage occurring before November, when olive oil made from this year's harvest becomes available.
Zanre added, "Wholesale prices of olive oil in the UK have already doubled this year alone, but further price increases are inevitable."
Meanwhile, Italy's tomato farming is also facing concerns over reduced production due to the heatwave. The Guardian analyzed that more than 15% of tomatoes planted this year were damaged by floods, and the heatwave is worsening the situation, leading to an expected 10% decrease in harvest.
The World Meteorological Organization (WMO) forecasted that the heatwave in the Mediterranean region will continue until midweek, with new records potentially being set in various countries.
The WMO explained, "Heatwaves are expected to intensify across the Mediterranean, including Greece and T?rkiye, until midweek (July 17), and may continue into August."
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