Oil Campaign Outlook 2018
An analysis of the campaign will be made in this blog post. Analyzing the rainfall and temperatures of this campaign, it can be said that although in the summer there were no extreme temperatures or rainfall (except in specific places and moments of the peninsula), the autumn has been drier and hotter than usual and that It could have hurt the different olive groves, although more in dryland olive groves, although this problem has been solved by the last rains. At present, the olive groves are in optimal condition but with a more delayed development of the fruit than usual. Emphasizing the forecast of production both in Spain and in the rest of the world with respect to the production of the previous campaign, production in Spain will increase by more than 20% compared to the previous campaign. On the contrary, it happens with the rest of the world since production will decrease by more than 26%, so in total terms, world production will decrease by more than 7% (data obtained from the Capacity of the Ministry of Agriculture, Fisheries and Rural development). In short, in the absence of corroborating the results at the end of the campaign, Spain will have a good year compared to other potential countries in the production of olive oil, but the one that has a large production can also be affected the price, so that the price quotation of the oil will have to be closely monitored.