At the biginning of the 2013 the stocks in Spain added up to ca. 755,000 tons. The prices had developed down in the previous months as the consumption in March was just to 68,000 tons (March 2012: 110,000 tons). In April, the consumption increased to 82,000 tons. And in the coming months are amounts expected of about 90,000 – 100,000 tons, especially as the stocks in Greece, Tunisia, Morocco will run out and the Italian consumers have started to buy in Spain again. This has resulted in the price trend, which has reversed.
Currently, it is still a bit early to estimate precisely the coming harvest above all because of increased rainfall and an unusually cold spring. Due to this situation a late harvest is to be expected. For Spain is an oil production about 1,300,000 tons for the harvest 2013/2014 estimated. Certainly, it is believed that the other olive oil producing countries are going to crop up to 30 % less. This is attributable to the strong Scirocco Winds, which has a large part of the Cretan blooming affected.
We assume that the price level will remain constant until the recent harvest in November. The qualities are rather mixed, hence it is expected to have surcharge for good sensory commodities surcharge for good sensory commodities.
source hees.deOlive Oil Market Report 2013,