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Olive Oil Set to Get Pricier as Spain Heat Wave Hits Production

  • Spain’s olive harvest could be worst in years, minister says
  • Spanish grains output may drop as much as 13% this year
Various olive oils on sale in Tarragona, Spain.

Various olive oils on sale in Tarragona, Spain.

Photographer: Angel Garcia/Bloomberg

Relentless heatwaves blasting Spain this summer threaten to sink production of olive oil from the world’s top exporter of the cooking ingredient, according to Agriculture Minister Luis Planas. 

“If there is no temperature relief or rains in the coming weeks, this year’s olive harvest could be notably lower than previous ones,” said Planas in an interview, declining to give an exact output estimate. “The olives sector is concerned about oil production.”