Thursday, July 9, 2020

"Agricultural union says Italian olive oil farmers lost 2 billion euros due to coronavirus"

That seems like a pretty big whack.
From PoAndPo Agrifish, July 5:
A dramatic drop-off in demand for Italian olive oil amid the coronavirus pandemic has put the owners of more than 400,000 olive growers of all sizes at risk of financial collapse, Italy's main agricultural union Coldiretti said in a study released Friday.

Coldiretti said that farmers cultivating some 250 million olive plants all across Italy have so far lost a combined 2 billion euros (2.25 billion U.S. dollars) due to the crisis.

Coldiretti studied the impact on the nation's olive growers together with researchers from Unaprol, the country's largest association of olive growers.

Coldiretti and Unaprol said the worldwide economic slowdown combined with the national coronavirus lockdown and the ensuing lack of tourism dealt an economic blow to farmers.

The study said lower demand has pushed prices as much as 44 percent lower....
....MORE