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CNBC
2 minutes ago
- CNBC
World's largest olive oil producer gives upbeat outlook after historic industry crisis
The chief executive of Spain's Deoleo, the world's largest olive oil producer, says a bumper harvest and improving market sentiment show that the industry is recovering from one of its toughest moments ever. A substantial olive harvest, notably in Spain, has helped to restore confidence in the sector and led to a pronounced fall in prices for both extra virgin and virgin olive oils in supermarkets. It comes after two consecutive seasons of poor yields resulted in a period of extraordinary turbulence throughout the olive oil value chain. A perfect storm of climate change-fueled extreme weather, high interest rates and robust inflation culminated in a dizzying price rally of the liquid fat last year — one that stunned consumers and industry veterans alike. Deoleo CEO Cristóbal Valdés said "a major shift" has since been underway, however. "What was once one of the most challenging periods in our history — marked by a scarcity of raw materials, high price volatility, and declining consumption — is now giving way to a more normalized and promising market landscape," Valdés told CNBC by email. Deoleo, the maker of household olive oil brands such as Bertolli and Carbonell, said it expects an environment of more contained raw material prices to persist throughout the second half of 2025. "The significant rebound in the olive oil harvest — particularly in Spain — is already translating into more stable supply conditions, and this is having a direct impact on prices at origin," Valdés said. "While some volatility may persist, we believe the trend towards normalization will hold," he added. Most of the world's supply of olive oil comes from the Mediterranean, with southern European countries such as Spain, Italy and Greece among the world's leading producers of the commodity. Spain, in particular, is the biggest olive oil producer in the European Union and a global reference for prices. 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. The yield, which was slightly less than forecast, marked a roughly 65% increase from 855,600 metric tons a year earlier. Deoleo's CEO said the bumper Spanish harvest prompted a 50% drop in raw material prices, stimulated demand and allowed the company to lower olive oil prices at the shelf. "Our outlook is therefore cautiously optimistic: we anticipate a more balanced market, where responsible pricing and a focus on value will be key to sustaining growth and ensuring long-term category health," Valdés said. Deoleo's CEO also said the more favorable market conditions had allowed the company to double its investment in advertising and promotion to 10 million euros ($11.63 million). Speaking to CNBC before the U.S. and EU agreed to a tariff rate of 15% for most EU goods from Aug. 1, Valdés said the company intended to ramp up its communication, marketing and consumer engagement efforts to ensure olive oil remains an everyday staple.
Business Upturn
an hour ago
- Business Upturn
Blue Star shares in focus after guidance downgrade for FY26
Shares of Blue Star came under focus after the company revised its growth outlook for the ongoing financial year. As of 10:58 AM, the shares were trading 1.19% higher at Rs 1,791.50. According to CNBC-TV18, the company has slashed its FY26 revenue growth guidance from 20% to 10%, marking a significant pullback in expectations. In addition to the topline downgrade, Blue Star has also trimmed its EBIT margin guidance, although the exact revised margin figure hasn't been disclosed yet. This double cut in guidance has raised concerns among investors and analysts about the near-term business momentum. Blue Star shares traded between ₹1,735.20 and ₹1,813.20 in today's session, opening at ₹1,735.20. The stock had closed at ₹1,770.40 in the previous session. In the past 52 weeks, it has touched a low of ₹1,521.00 and a high of ₹2,417.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
an hour ago
- Yahoo
Trump Threatens EU With 35% Tariffs if Trade Bloc Forgoes $600B US Investment
With just days to go before President Donald Trump's 'reciprocal' duties on dozens of United States trade partners are set to take effect, the Commander in Chief is issuing a stern warning to those that have brokered deals: keep up your end of the bargain—or else. Speaking about two of the more notable deals struck over the course of the past two weeks with Japan and the European Union on CNBC's Squawk Box on Tuesday, Trump reiterated claims that the countries have agreed to funnel billions of dollars of investment into the U.S. market, and threatened the EU with higher duties if it doesn't pay up. More from Sourcing Journal Trump Ups Duties on India to 50%, Citing Russian Oil Purchases 76% of UK Retailers Probing New Export Markets Due to Tariff Turbulence EU Delays Duties on US, While India and China Negotiations are Snarled by Russia Conflict Japan agreed to a $550-billion 'signing bonus,' the president said, calling the funds 'our money to invest as we like.' Likewise, the EU has agreed to invest $600 billion into U.S. industry and purchase $750 billion in American energy, he added. Asked what might happen if the EU doesn't uphold the terms of the deal (for which details remain scant), Trump said he would up duties on the trade bloc to 35 percent. Heated negotiations saw the president threaten Europe with 30-percent duties in July. Last week, those tensions finally cooled, and Trump was able to reach a deal with European Commission president Ursula von der Leyen during a trip to Scotland. Beginning Thursday, European goods will face 15-percent tariffs. According to a White House fact sheet on the 'colossal' deal, Europe will draw down its trade barriers, zeroing out tariffs on U.S. goods and enabling agricultural and industrial products into 27 countries duty free. It isn't immediately evident what the sizable investment promised by the trade bloc will go toward. Trump on Tuesday also threatened Europe with new tariffs on pharmaceuticals that could escalate to 150 percent within the next year and a half, and 250 percent sometime thereafter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
