Selon Alyaoum24, Jaime Lillo, executive director of the International Olive Council, during the first World Olive Oil Congress in Madrid, highlighted the need for the sector to adapt to this new climatic reality. Indeed, global production fell by around a quarter, from 3.42 million tonnes in 2021-2022 to 2.57 million tonnes in 2022-2023, with a forecast decline to 2.41 million tonnes for 2023-2024.
This reduction in supply has caused prices to increase by between 50% and 70% depending on the variety, with prices in Spain tripling since the start of 2021. Pedro Barato, president of the professional olive oil organisation in Spain, compared the current tensions in the market to those in the banking sector during the 2008 financial crisis.
Faced with this crisis, scientists and producers are exploring solutions to improve crop resilience. Genetic studies are being conducted to identify olive varieties best adapted to changing climate conditions, including those requiring less cold in winter and more resistant to drought.
Innovation in irrigation techniques is also a priority, with a gradual shift to drip systems that minimize water waste. Finally, some are considering moving production to regions less affected by climate change, although this solution remains small-scale for now.
