olive oil prices in the international market have reached highest level here and above quarter of centurybecause Spaina major olive oil producer, experienced the driest April in its history.
According to his latest International Monetary FundWorld olive oil prices hit a 26-year high almost $5990 tons, and experts say that the hot weather in Spain plays a big role in this.
“The issues driving price volatility at record highs are mainly due to weather and severe drought in much of the Mediterranean region, but more so in Spain, which is a major producer and exporter of olive oil,” the analyst said. Kyle Holland on the CNBC news network.
According to a report published yesterday, Monday, by the Spanish meteorological agency AEMET, last month was the hottest and driest April in Spain.
Source: Kathimerini
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