Production decrease and stock reduction make the olive oil price skyrocketing.What is the future of the industry? Our company is bravely and trustfully addressing these problems, just as Giancarlo Turri, soul of our company, handed down to us.
The last two olive harvest seasons were severely poor, above all for the major European producers of olive oil: Spain, Italy, Greece. The stock reserved for less productive years, trying to control oil price, have now been exhausted and today shortage of oil means growing increases on the final product.
During 2022 in Italy production decreased by 27%, but developments of local prices have been altered even by the severe decrease in Spanish production with a fall of 50%.
Climate change has the leading role in this context and it is taking meaningful implications nationwide. Secular olive groves too, with trees over 400 years old, are facing a challenge never seen before, because climate, which has been constantly changing for the last ten years, is making more and more uncertain their future production.
Heavy rain and hail storms have hindered appropriate pollination and the natural olive growth. Weather conditions, moreover, have facilitated the spread of a parasite: the olive fly, a 5 mm long, yellowish gnat, who damages fruits, leaves and plants. Drought, heat waves and parasites have helped the so called “cascola”, a premature fall of the olives, and the few ones left on the trees are often wrinkled and not suitable for oil production.
The future of our business is unpredictable, as well as the outcome of the next harvest. We are producers and we are bravely and trustfully facing this problem, just as Giancarlo Turri, soul of our company, handed down to us. We make sure to adopt advanced technological solutions, to ensure maximum efficiency of harvest and to avoid potential waste that would further weigh on the outcome of the year.
We strongly trust our product: precious food for our health and very usable in cooking, extra virgin olive oil is the perfect meal partner. We really want to offer high quality to make olive oil lovers place their ever increasing trust in us and we want to keep the same tradition and passion that have been our belief since 1951.
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