The olive oil market is facing pressing times as unstable supplies due to climate change and growing global demand are seen prompting rollercoaster prices, according to a leading lender to agribusinesses.

AGRI Trends- for the week of June 2019 

The price for US yellow Gulf corn declined by 3.3% this week. The USDA crop progress report indicated that a larger than expected number of corn acres have been planted and that 94% of the corn crop has emerged.

A very marketable crop of grapefruit, with a size distribution peaking on counts 40 and 45 and a higher percentage of class 1 exports over last year, will end earlier this season, which may cause some markets to run short of fruit.

According to a 2019 report from the European Union titled Opportunities for South African emerging farmers in the European sustainable market, even with a 4% global market footprint, South Africa is still punching far below the growing avocado demand, which has seen a steep increase in international market prices.

Across the country the navel harvest has had a slow start and the industry is seeing bigger fruit (up to 60% of count 64 and larger) and a smaller crop. A poor start to the navel season could have a ripple effect on Valencias.