Future of the Olive Oil Market

Moments of crisis tend to be business opportunities for those who know how to analyze the market and who have a great vision of the future. This year is what is happening with the olive oil market…

With a more expensive product, refining industries have made an effort to innovate with the launch of new products, called fatty preparations, in search of positioning themselves as substitutes for olive oil… However, the information about the benefits, properties or harms of These preparations are in short supply and we denote a great lack of transparency towards the end customer.

Despite the prices and this lack of information, the national consumer has a great culture of oil and the figures reflect that they have continued to be loyal to olive oil even above sunflower oil.

Do we change the type of oil to use? Change of habits?

It is a very hot debate in recent months…

There are fats that, although they are not harmful to health, do not have the benefits of consuming olive oil… These fats we are referring to are coconut oil or sunflower oil…

At Aceites Morales we defend a change in consumer habits without changing the type of product… For example, if before we used a deep fryer, perhaps now is the time to use an air fryer and only spray our food with olive oil…

Should we wait to buy?

The benefits of the rains of recent days are being very good for the olive grove, and this is being noticed in the drop in bulk prices of the lampante category…

Despite this, extra virgin olive oil continues to be scarce and therefore its price remains stable, standing between €8.5/kg and €9/kg.

Because of this, and because the campaign will not greatly help alleviate the lack of supply, if you need oil, do not wait to buy because of a price drop. If it occurred, it would not be significant.

In summary…

This year was a great litmus test for the sector and it has been passed with flying colors thanks to the trust in our product from our direct consumer…

The bullish price situation will be temporary, which will last no more than a year, once there is a more optimistic forecast for the 2024-25 campaign.

It is not worth changing the type of oil and perhaps a change in consumption habits would be good, to help us optimize spending…