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olive oil prices expected to halve as harvests improve in 2024
Spain’s Deoleo, the largest olive oil producer, anticipates prices will nearly halve from record highs due to improved harvests in 2024-2025, following a crisis driven by extreme weather and drought. While prices for extra virgin olive oil have already dropped significantly, market tensions remain, particularly for higher quality oils. The industry is also investing in new agricultural technologies to adapt to climate change challenges.
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