Good News Is Coming for Olive Oil Lovers
- Deoleo CEO sees market boosted by cheaper oil for consumers
- Spain-based supplier aims to eliminate losses in 2018
Bottles of Spanish olive oil move along the production line.
Photographer: Angel Navarrete/Bloomberg
This article is for subscribers only.
Olive oil lovers may finally get a break on their grocery bills, after three years of elevated prices for the staple of Mediterranean cooking.
Deoleo SA, the world’s largest olive oil supplier, expects rising global output in the 2017-2018 season will cut prices for consumers. That may help sales at the company, according to Chief Executive Officer Pierluigi Tosato, who is completing a financial restructuring.