Zejd EVOO illustrates Lebanese growers' perseverance in producing high-end olive oil.
Olive oil prices have risen up to 20% in the past two weeks as output has fallen in the main producing countries. Suppliers such as Cargill, Field Fresh and Borges may raise it further this year, which can hit demand.
Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin oil in the three top EU producing countries and in Tunisia, while graph 3 shows the weekly changes in the producer prices for refined olive oil in the three main EU producers.
The monthly price movements for the same two grades of oil are given in Graphs 2 & 4.
Extra virgin olive oil – Producer prices in Spain over the last few weeks increased steadily to reach €3.64/kg at the end of January 2017, which was an 10% increase compared to the same period the previous year. If we compare this price with the maximum price in the third week of August 2015 (€4.23/kg), it presents a 14% decrease (Graph 1).