Olive oil prices expected to exceed 150 dirhams in the coming period

Agadir24

As the olive harvest season approaches, olive oil prices are expected to witness a significant increase, due to the decline in production resulting from the continued drought and its negative impact on crops in production areas.

Professionals expect the price of olive oil to become higher than it is now, and it is expected that if the weather conditions continue as they are, the price of one liter will become 150 dirhams, which will be an obstacle for the consumer with limited income, who will find it difficult to purchase his needs of this vital food item that was until recently one of the most important components of Moroccan tables.

In addition to drought and harsh climatic conditions, they pointed out that among the factors behind the rise in olive oil prices is the fact that some major investors are buying the crops of small farmers’ farms before they are ripe and harvested, in order to “monopolize and make profits.”

Regarding the possibility of prices falling in the event of rainfall, professionals ruled this out, stressing that the availability of appropriate conditions will ensure the revival of olive trees that have been exhausted by successive years of drought, and thus increase the volume of production, which will positively reflect on the prices of olives and olive oil in the coming years, but not in the next season.

They warned that the continuation of the situation as it is will indirectly lead to the loss of jobs and will contribute to the spread of unemployment. Moreover, the rise in prices will burden the citizen who may be forced to give up this product as a result of the successive economic crises he is experiencing.

The same professionals concluded that the relevant authorities are required to activate monitoring and allocate support to farmers and presses to encourage the players in the sector, and prevent the lobbies that resort to monopoly to control market prices and thus harm citizens.

It is noteworthy that the Minister of Agriculture, Maritime Fisheries, Rural Development, Water and Forests, Mohamed Sadiki, had held a meeting on August 5 with the President and members of the Moroccan Federation of Agricultural Products Packaging Industries, regarding measures to support the protection of food industries and the olive chain.

A statement from the ministry confirmed that this meeting focused on the situation of the agricultural products development sector, including the olive chain, and the measures that should be taken to support contractors in maintaining the activity of their units in a difficult context marked by successive years of drought that severely affect the supplies of production units, and an international context marked, in particular, by inflation, high input prices and competition in foreign markets.