Some dire news from southern Europe, as it becomes clear that the drought impacting the Mediterranean region is set to continue for another year. There was some optimism at the start of the year that the worst of the drought was over.
This is from a relevant news report earlier this week:
Scorched Olives
Spain and Italy are also among the world's top producers of olive oil.
Production in both countries is expected to fall, but the decline is likely to be particularly steep in Italy, where drought is the latest headache for olive growers already plagued by insects and a bacterial disease in recent years.
A 60 percent drop in Italian output is forecast by the International Olive Council.
"We expected good production this year, but it hasn't turned out like that," said Francesco Suatoni, who tends about 4,000 olive trees on the fringe of the ancient town of Amelia, in Umbria, central Italy.
Holding up a branch with small, shriveled pods on it he added: "Each little ball could have been an olive, but it's scorched.
"This year we expect to produce 50 percent less than last year. Let's hope not, but it will be very difficult to have a good crop."
Other crops have been damaged, and Italy's agricultural association Coldiretti has estimated the drought could cost the nation's farmers more than 1 billion euros.
The drought is also impacting olive growers in Spain, the World's largest olive oil producer, as well as neighbouring Portugal, also a top ten olive grower.
It does look likely that 2017 will be another strong year for the olive oil price, and hopefully next harvest AAP should finally get some benefit from this.
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