Olive Oil Prices Seen Extending Gains After Spanish Crop Damaged
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Olive oil prices are forecast to extend gains after drought caused a harvest failure in Spain, the biggest exporter, industry researcher Oil World said.
World output of the oil used in cooking and salad dressings may fall 18 percent to 2.96 million metric tons in the year through September 2013 from 3.6 million tons a year earlier, the Hamburg-based researcher wrote in an e-mailed report today.