Olive oil: prices contained thanks to imports

The rains that occurred during the month of October allowed farmers to maintain hope, but for olive growing, there was nothing more to expect. And the pessimistic outlook eventually came to fruition. This is what the daily says Eco Inspirations in its edition of Thursday, December 11. “The harvest, which started in the second half of November, only corroborates a disastrous campaign for the third consecutive year. This is a small campaign”, we read. Production has never been so low.

A professional indicates that the cost price is between 2 and 3 dirhams, compared to 1 dirham previously, without counting the fixed costs associated with production. As for the price of olives, it is 13 dirhams per kilo. All told, the loss for the producer is estimated at 3 dirhams per kilo. “The harvest, which usually lasts until January, may end earlier than expected», lit-on encore.

According to Rachid Benali, president of Interprolive and COMADER, “80% of global production is already harvested“. Precise figures on the volume of production are still not available, but the situation suggests the most defeatist scenario.

Water scarcity persists. If it continues, as was the case in November, the repercussions will be considerable. In this case, forecasts predict a production of 40,000 to 60,000 tonnes, thus confirming the short duration of the olive growing season. “Most of this production will come from traditional irrigated olive groves and young intensive olive groves. These irrigated olive groves represent approximately 30% of Morocco's olive-growing area, estimated at 1.22 million hectares,” writes Eco Inspirations.

As a reminder, in its forecasts, the Ministry of Agriculture expected a decline in olive production for the 2024/2025 season of 11% compared to last year, and of 40% compared to the seasons normal.

A liter of olive oil is currently sold between 90 and 110 dirhams, depending on the quality. Prices which remain below forecasts, because everything suggested that, given the small harvest, a surge in prices was expected on the market, to the point of exceeding 120 dirhams per liter. The announcement of imports reduced prices and helped stabilize the market. It is planned to import 10,000 tonnes of olive oil from Spain by the end of the year, with the added bonus of the suspension of import duties.