A few months ago the headlines talked about the palpable escalation in the prices of olive oil but now the story is very different: prices fall loudly. So much that the olive sector has already requested measures to the government.
The price, in free fall. The Latest consumer price index data (CPI) has served the olive sector to give the alarm: the price of olive oil is in free fall. The drop is 45.7% year -on -year for olive oil, while the category of “other edible oils” and the dedicated to butter showed rebounds of 18.7% and 6.7% respectively.
Together, the category of “oils and fats” has shown A fall in 37.1% prices, which contrasts with the 2.8% rise in non -alcoholic foods and drinks and one 2.3% increase in the general index. Again attending to the annual variation of the month.
In the latest IPC data, it is also indicated that oils and fats are the main bearish taxpayer of the monthly index.
Never to everyone’s taste. Price drop has harmful clearings: farmers. The associations of olive producers, such as the union of small farmers and ranchers of Jaén, Upa Jaén, They recently claimed Urgent market measures to the Ministry of Agriculture to prevent this collapse in prices.
“Untenable”. “What worries us most right now, especially in the traditional olive grove, is to at least the costs. Jesus Cózar Pérez saidgeneral secretary of UPA Jaén and Andalucía.
Cózar Pérez, who described the situation as “unsustainable, artificially forced to leave the traditional olive grove,” asked the Ministry of Agriculture to implement “the market mechanisms necessary to achieve rise in prices at origin.”
Future prices. According to the agrarian sector itself, the fall in prices It does not respond Both to the present dynamics of adjustments between supply and demand but to the futures market: after two years with pyrrhic crops, this year we are faced with a standard, not especially productive.
The expectation of a future “great campaign” makes prices adjusting due to fall in demand, and with it also prices. The problem, they point out from the sector, is that nothing guarantees that the harvest that comes is excellent, much less: pests and abnormal temperatures can have an impact on a harvest that must still go through one of its critical points.
An unequal inflation in food. If oil is one of the food whose fall has impact on the rate General of the CPI, we find the opposite case in fruits and meat. In the latter case, in large part because of the promotion in the prices of beefs (14.5% year -on -year) or sheep (12.2%).
On the other hand, foods with less weight in the basket but with rapid ascent prices are eggs (18% year -on -year care); and coffee, and cocoa and chocolate powder (increases of 19.8% and 13.1% respectively).
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