There are up to 2.8 billion at stake

“We are here because the data is overwhelming and alarming, since there is an unjustified lag of more than two euros per kilo between the real price at the origin of olive oil (3.5 euros per kilo) and the value it should have (5.55 euros per kilo).” They are the words of Miguel PadillaSecretary General of Coordinator of Agricultural and Livestock Organizations (COAG).

They said on Tuesday by presenting in front of the National Markets Commission and the competition to file a formal complaint to what seems like a manipulation of the olive oil market.

Market manipulation? We have been counting it. For months, the spokesmen of the Spanish olivers They have denouncing that something weird happened with the price of oil at source. The reality is that, in terms of contribution, this market is very “simple.” With logical variations according to the situation of the moment, the price of oil is an extremely predictable fact: it depends almost exclusively on the stocks there.

And that the problem, which the price that the liter of oil is much lower than what it would have to be.

In -depth investigation. Concerned about this anomaly, the Provincial Council of Olive Oil of the Provincial Council of Jaén requested a detailed report to a group of researchers from the University of Jaén, the University of Córdoba and the Institute for Agricultural and Fisheries Research and Training.

Your conclusions They were crystalline: That mismatch not only existed, but it was much larger than the first estimates said.

Are we facing a crime? The artificial alteration of the prices of origin of olive oil is of course illegal according to the Law of Defense of Competition. In fact, to demonstrate, it would be a serious infraction. For now, yes, only indications have been verified that the market is not working correctly (losses of up to 2.8 billion) are estimated, but the next step is more complicated.

And need authorities to take action on the matter. Because although it is expressly prohibited for companies to reach agreements in order to restrict or falsify the competition, prove it is not easy.

A symptom of a chronic disease: the inability to be able to make strategic decisions that ensure the future of the olive grove and the good condition of a strategic sector that industrially vertebra A territory already very touched by the olive tree, depopulation and lack of opportunities. As we have been saying weeks, in the coming months, Spain You will control The global marketing of olive oil and will not help you.

It is worth remembering that we talk about a sector that, despite growing 15% a year, will see how more than 500 oil mills will close in the next decade. Not only that, it is worth remembering that we talk about a sector that, despite its feeling of leadership and solidity, is crossed by the same problems than the rest of Spanish agriculture.

With all that means that.

Image | Miguel Masegosa

In Xataka | The great paradox of Spanish olive oil: although it grows 15% per year, more than 500 oil mill will close in the next decade