Prices Fall

Prices of virgin olive oil traded on the MFAO Olive Oil Exchange in Jaen, Spain, fell 35 percent in the past year while soybean oil dropped 19 percent on the Chicago Board of Trade.

Agricultural prices have declined globally from last year amid rising output of everything from soybeans to sunflowers.

Extra virgin olive oil prices in Spain declined to a 19-month low of $2,725 a ton last week, almost 30
percent below a year earlier, according to Oil World.

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