‘Stress test’: Olive oil producers adapt to climate change as production falls and prices soar

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“Climate change is already a reality and we need to adapt to it,” according to the executive director of the International Olive Council Jaime Lillo. And according to data supplied by the organisation’s 37 member states, it is set to fall again in 2023-2024 to 2.41 million tonnes. “We have to prepare ourselves for increasingly complex scenarios that will allow us to face up to the climate crisis,” he added, likening the “turbulence” faced by olive producers to that experienced by the banking sector during the 2008 financial crisis.Over 90 per cent of the world’s olive oil production comes from the Mediterranean basin.

The goal is to find “varieties that need fewer hours of cold in winter and that are more resistant to stress caused by lack of water at certain key times” of the year, such as spring, said Juan Antonio Polo, head of technology at the IOC.

Source: Energy Industry News (energyindustrynews.net)

Climate Change Price Hike

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