23 September 2012

SPAIN / COMMODITIES : Big Olive Oil Price Spike Coming.


      There's a growing dispute in the USA about current non-existent standards over what constitutes extra virgin...and other olive oils.
     It seems pricey olive oils are often diluted with other oils.
     But...there is no dispute that the price of ALL olive oils will be going up.
     Spain's severe drought...which caused many forest fires...forced the price of extra virgin oil up 62%  in just 3 months...after 600,000 tons of olives were lost.
     Spain is the biggest producer of olive oils...and 2011 was its best crop in recent years.