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After a Spanish drought in 2022, prices of olive oil from Spain (the world’s largest producer of the extra virgin variety) jumped by more than 80%, according to the European Union. The price of ...
It marks the “highest price ever recorded for Spanish olive oil” based on the company’s data spanning over 20 to 30 years and represents a year-on-year jump of 111%.
Olive oil prices reached a record high of $12.39 per bottle this year — a jaw-dropping cost Deoleo plans to cut in half. The Spanish company expects prices to fall from 10 euros to around 5 ...
Depending on the olives and processing, the Decanter or Tricanter can extract between 85 and 90% of the olive oil in the 1st extraction. The yield from olive oil manufacture can be increased even further with a 2nd extraction. The olive oil yield increases to as much as 96% by combining the 1st and 2nd extractions. [17]
As of 2020, the disease was threatening olive groves and oil production in Italy, Greece, and Spain, which together account for 95% of European oil production. [4] [5] One 2020 model predicts a potential economic impact of the disease for Italy over 50 years between 1.9 billion to 5.6 billion Euros. [4]
Over the next three days, the increase in oil prices erased the previous week's losses. WTI climbed to $68.36 and Brent to $72.25 on August 25. Fuel demand in the U.S. was the highest since before the pandemic, U.S. crude inventories were the lowest since January 2020, and China reported fewer new COVID-19 cases. [59]
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Trump also said he intends to refill the Strategic Petroleum Reserve, which was drawn down during the Biden administration after prices skyrocketed following the Russian invasion of Ukraine in 2022.