The 2022/23 autumn/winter cereal season was heavily marked by the ‘severe spring drought’ and was the worst ever for all cereal species, Statistics Portugal (INE) has announced today. But there was ‘good news’ too: olive oil production exceeded 1.75 million hectolitres in 2023, which corresponds to the second most productive olive growing season ever – with prices equally ‘exploding’ during the inflationary ‘crisis’ (which is now receding, but not in terms of olive oil prices). According to Lusa, olive oil’s 70% price increase was more due to ‘extraordinarily low’ production in 2022, the corresponding ‘sharp’ reduction in stocks and a fall in production in Spain.
Cereal campaign in 2022/23 ‘worst ever’ – official
