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Article: Olive Oil Prices Level; Supplies Recover in Spain.
- Article from:
- Chemical Market Reporter
- Article date:
- July 13, 1998
- Author:
CopyrightCOPYRIGHT 1998 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE OLIVE OIL MARKET has stabilized after recovering from droughts and tightened supplies. Prices have come down because improved yields have allowed producers to match demand.
Growers have enjoyed improved rainfall, helping oil yields. "During the past two years, there was a big problem with drought that created shortages," says a trader. "This year, availability has been good."
Prices have eased consistently during the past four months. Industry sources report prices for edible olive oil in Spanish drums to be between $10.50 and $12 per gallon, while Italian B-type olive oil is around $8.50 per gallon. Insiders note that in the past, prices have tended to ...