Spain’s Olive Oil production is in danger of falling next year

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Prices of virgin olive oil futures traded on the MFAO Olive Oil Exchange in Jaen, Spain, climbed 21 percent last month, the biggest monthly increase since August 2012, while soybean oil rose 1.7 percent on the Chicago Board of Trade.

Extra virgin olive oil prices in Spain advanced about 10 percent last month, according to Oil World.

Palm oil exports dropped in January to June, from the same period last year, for the first time in “many years” because of its “deteriorated price attractiveness,” boosting demand for sunflower oil and soybean oil, Oil World said.

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