The year 2024 brought challenges for the olive groves in the Mediterranean basin. While many farmers and olive oil enthusiasts eagerly anticipated the harvest, they were met with a mixed reality: a harvest below expectations. Olive trees, symbols of resilience and vitality, were influenced by various climatic factors and diseases, resulting in lower-than-expected production. This article explores the obstacles faced by olive producers during this challenging year.
Drought in Europe
The ongoing drought in Europe has deep roots, stemming from a combination of extreme climatic factors. High temperatures and insufficient precipitation created an unfavorable environment for the optimal growth of olive trees. The reduction in soil moisture compromised olive development, leading to a significant decrease in expected yields.
Spain, the largest producer of olive oil, is experiencing a second consecutive catastrophic harvest: between 2021 and 2023, Spanish production was halved!
A tough blow for producers
Faced with this reality, producers find themselves in a challenging situation, seeking ways to adapt and overcome these challenges. Economic losses, forecasts below expectations, and long-term consequences for the olive oil industry demand a thoughtful response and innovative initiatives. Among the implemented initiatives are the search for olive varieties resistant to drought, improvements in irrigation practices, and investments in innovative agricultural technologies.
Search for drought-resistant varieties
The first line of defense for olive producers against drought is to explore and develop olive varieties better suited to arid conditions. Once identified, these varieties will provide producers with a sustainable solution to counteract the detrimental effects of drought on olive growth.
Improvement of irrigation practices
Improving irrigation practices is a key strategy adopted by producers to maximize the use of available water. More efficient and water-saving irrigation systems are being implemented, allowing precise and targeted distribution of water to the roots of olive trees. The use of soil moisture sensors and smart technologies enables farmers to closely monitor the water needs of their crops, ensuring more efficient water resource management.
Investment in innovative agricultural technologies
To strengthen the resilience of their farms, many olive producers are investing in advanced agricultural technologies. Drones equipped with sensors enable aerial monitoring of olive groves, quickly detecting signs of water stress or diseases.
The impact on the olive oil industry
This poor harvest has triggered a series of repercussions affecting the economy of the olive oil market as a whole.
Reduced supply
A poor harvest means fewer olives, and therefore less olive oil. Yet consumer demand continues to grow. Producers are unable to meet this demand, and are therefore forced to adjust their prices.
Soaring prices
The price of "green gold" has doubled in one year and tripled in two. In Spain, Tunisia, Morocco and Turkey, olive oil is now fetching almost €9.00 a liter, a record price (https://agro-mundi.com/huile-dolive-une-annee-2024-encore-sous-tension/).
In supermarkets, extra-virgin olive oil has risen by an average of 69% in 2023, according to a study by the consumer advocacy association FACUA. (https://facua.org/noticias/el-aceite-de-oliva-virgen-extra-se-ha-encarecido-un-70-de-media-en-los-supermercados-a-lo-largo-del-ultimo-ano/).
Olive oil quality
To compensate for losses, some producers are forced to resort to fraudulent practices that alter their olive oil.
Some extra-virgin olive oils have been mixed with lampante oil, to increase the quantity of oil. Lampante oil is highly acidic and has a very unpleasant taste and smell, making it unpalatable. Traditionally, lamp oil was used as fuel for oil lamps.
Our 2024 selection
Faced with this challenge, Oliviers&Co has positioned itself as an olive oil selector.
Reinforced commitments
Olive oil quality: rigorous and precise, our selection process meets exacting specifications to bring you the world's finest olive oils.
Traceability
From the orchard to the bottle, we make it a point to hide nothing from you. We provide full disclosure on the country of origin, estate, producer, harvest date and olive variety of all our olive oils.
Producer support
From the outset, we have worked hand-in-hand with our producers to support them throughout the olive oil production process.
A taste for discovery and sharing
Our mission is to help you discover the richness of Mediterranean gastronomy through our products.
A sneak preview of the New Harvest 2024
Thanks to the strong links we've forged with our growers and the hard work of our selection team, we're able to offer you an elaborate and diversified range of Grands Crus.
We have also strengthened our partnerships with our most loyal producers.
To bring you something new, our selection team has sought to expand our network of producers. We have sought out and discovered new producers who proudly join the Oliviers&Co family.