Portugal’s olive production is expected to increase by 20% this year, which will not affect olive oil prices internationally, which should not undergo major changes, Casa do Azeite said in response to Lusa.
The National Institute of Statistics (INE) estimates that olive production in Portugal will increase by 20% this year.
“Unfortunately, Portugal does not have the ability to influence the price of olive oil internationally. Since we are an open economy, we obviously adhere to the prices practiced in the international market. When we talk about olive oil, Spain is the market that most influences prices on international markets, given that it is the largest producing country in the world,” Mariana Matos, secretary general of Casa do Azeite, told Lusa.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.