* Spain olive oil harvest forecast to fall up to 50 percent * Wholesale market prices have surged 50 percent since July * Major producer says struggling to take on cost surge * Large stocks mean exports to be largely unaffected By Nigel Davies MADRID, Sept 28 (Reuters) - "An olive tree is like a camel, you don't have to give it much water, but when it's thirsty, it really has to drink," says olive oil producer Francisco Nuñez de Prado of the drought that could shrivel this year's harvest to half of last year's.
Raymond Clough dnomyar34@raymondclough.com
- Wholesale prices have nearly doubled to 2.4 euros a kilogram from around 1.6 euros ($2.06) in July, and edible oils analyst Oil World said they could well rise further in coming months in sharply reduced world production in 2012/2013. Yet the ... |
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