Deoleo CEO Says Olive Oil Market Is Recovering After Bumper Harvest

According to CNBC, Deoleo CEO Cristóbal Valdés said the olive oil industry is recovering after a bumper harvest, especially in Spain, helped restore confidence and push supermarket prices lower for extra virgin and virgin olive oils. Spain's Ministry of Agriculture, Fisheries and Food said the country produced 1.41 million metric tons of olive oil in the 2024/2025 crop year, up about 65% from 855,600 metric tons a year earlier. Deoleo said raw material prices fell 50%, and the company expects more contained raw material costs to continue through the second half of 2025. Valdés also said the improved market allowed Deoleo to double its advertising and promotion spending to 10 million euros ($11.63 million).