Olive oil is big business in southern European Union countries. They are the source of more than 70% of the world’s olive oil, bringing export revenue of almost €1.8 billion last year.
In Spain, the world’s biggest producer, the young farmers’ association Asaja says 2014 is “another disaster” after a calamitous harvest two years ago.
Spain’s output is forecast to plunge by more than 50% with a drop of at least 60% in the southern Andalucia region. Italy, France and Portugal have also been affected.
Article sourceSlim pickings for olive crop in Cyprus,