Morocco’s Olive Oil Prices Soar as Production Plummets Amid Heat Wave

The first olive harvests in October are disappointing. "The high temperatures in most of the regions known for olive oil production have considerably affected the harvests so far," said a mill owner near Fkih Ben Salah to Madar21, stressing that "most of the mills that have started pressing have seen their production decrease by nearly half." Also, he said that the low yield in some regions is offset by the production of other regions. "The mills in the Fkih Ben Salah region, for example, offset their deficit by the production of other areas like Kelaa des Sraghna," the professional said.

He also said that "the drought has considerably affected the olive harvests this season." According to the producer, what a single olive tree produced last year has decreased by nearly half, which has affected the amount of oil extracted from these meager harvests. Also, he noted that "the olive harvests will not meet the needs of Moroccans." As a result, the current prices of olive oil, which "vary between 90 and 100 dirhams per liter in the mills" should increase "due to the passage through several intermediaries and merchants before reaching the final consumer," the professional said.

"Olive oil prices will likely rise after the end of the harvest and pressing season," he estimated, noting that "this phase will determine the total production in all regions of Morocco and thus reveal the real demand for this product, widely consumed by Moroccans." "The harvest and production in our region are still in their early stages due to the low temperatures throughout the year, which sometimes causes a delay in the pressing of olive oil," added Mohamed Hamdaoui, a professional and mill owner. He will specify: "the first phase of the harvest, although not decisive, suggests a production decrease of 30 to 40%."

It is likely that prices will rise if the opening of imports to supply the domestic market with the needs of citizens in this product is not decided, Hamdaoui confirmed, stressing that "the increase is natural in such situations, where production decreases and demand increases." He sees the decision of the Ministry of Agriculture regarding the import of olive oil from countries where production is abundant as a panacea. This decision will "preserve citizens from the effects of the soaring prices that olive oil will reach," he is convinced.