A new report released by a Spanish university indicated that a number of factors are contributing to the decrease in local consumption and predicted that it may not recover.
A report from the EAE Business School in Madrid shows that olive oil conÂsumpÂtion among young peoÂple in Spain has been declinÂing due to changes in habits and risÂing prices since the finanÂcial criÂsis, with prices increasÂing from €2.47 in 2008 to €4.02 in 2017. This decrease in conÂsumpÂtion has led to a shift towards more packÂaged and processed foods, away from traÂdiÂtional Mediterranean recipes that use olive oil as a staÂple.
A report recently released by a Madrid busiÂness school has found that olive oil conÂsumpÂtion among young peoÂple in Spain conÂtinÂues to fall.
The report, which was pubÂlished by the EAE Business School, attribÂuted this conÂtinÂuÂing decrease to changes in habits among young peoÂple as well as prices that have not come back down to pre-finanÂcial criÂsis levÂels.
Now they cook less and rely on preparÂing more preÂcooked meals. This moves young peoÂple away from preparÂing typÂiÂcal recipes of the Mediterranean diet in which olive oil is a staÂple.- Manuel Moñino, memÂber of the Spanish Foundation of Dietitians and Nutritionists
Back in 2008 a liter of extra virÂgin olive oil cost €2.47 ($3.63). That price has since risen to an averÂage of about €4.02 ($4.62) in 2017, accordÂing to econÂoÂmist Mariano Íñigo, one of the study’s authors.
Íñigo said that this rise in price directly corÂreÂlates with the decrease in olive oil conÂsumpÂtion, which fell from 425 milÂlion liters in 2008 to 342 milÂlion liters in 2017.
See Also:Olive Oil Consumption“The data [we colÂlected] show a conÂtinÂued decrease of the volÂume of olive oil conÂsumed in houseÂholds in Spain durÂing the past 10 years,” Íñigo wrote in the report.
In the meanÂtime, conÂsumpÂtion has increased in wealthÂier northÂern European counÂtries, East Asia and the United States, all facÂtors which Íñigo points out have conÂtributed to the increase in extra virÂgin olive oil’s value around the world.
This means that in spite of Spain’s ecoÂnomic recovÂery since the finanÂcial criÂsis, extra virÂgin olive oil prices have not come back down, which Manuel Parras, a marÂketÂing proÂfesÂsor at the University of JaĂ©n, believes is servÂing as a deterÂrent for young peoÂple to purÂchase olive oil.
“We Spaniards perÂceive it as a staÂple food, that’s why we are senÂsiÂtive to variÂaÂtions in price; if it increases, we conÂsume less,” Parras said.
Íñigo wrote in the EAE report that neiÂther he nor anyÂone with whom he spoke expects the prices to come back down either. Instead, he said that he expects increasÂing global demand to conÂtinue driÂving prices up, even in Spain’s domesÂtic marÂket.
“Taking into conÂsidÂerÂaÂtion that the curÂrent level of olive oil prices are not expected to expeÂriÂence any drop-off, more likely, on the conÂtrary [they will increase],” he said.
This pheÂnomÂeÂnon has led to a shift in buyÂing habits among young Spaniards, many of whom Gregorio Varela, a proÂfesÂsor of nutriÂtion at Madrid’s San Pablo University, said now take the price of food into conÂsidÂerÂaÂtion more so than its healthy attribÂutes.
This has led to a decrease in conÂsumpÂtion of many comÂpoÂnents of the Mediterranean diet and a move toward conÂsumÂing more packÂaged and processed foods. The forÂmer being more expenÂsive than the latÂter.
In turn, Manuel Moñino, a memÂber of the Spanish Foundation of Dietitians and Nutritionists, believes that this menÂtalÂity, comÂbined with a lagÂging recovÂery of wages from the finanÂcial criÂsis, has led to an overÂall shift in culÂture of young Spanish conÂsumers.
“Now they cook less and rely on preparÂing more preÂcooked meals,” Moñino told El PaĂs. ​“This moves young peoÂple away from preparÂing typÂiÂcal recipes of the Mediterranean diet in which olive oil is a staÂple.”
Data colÂlected by Spain’s Ministry of Health bears out this claim as well. According to a recent surÂvey adminÂisÂtered by the Ministry, Spaniards between the ages of 17 and 39 reported conÂsumÂing an averÂage of 0.49 ounces of olive oil per day and 14 perÂcent of responÂdents reported using none at all.
That is comÂpared to responÂdents aged 40 to 64 who reported conÂsumÂing 0.60 ounces of olive oil per day on averÂage, with fewer than 10 perÂcent reportÂing no olive oil conÂsumpÂtion at all.
Recent scanÂdals in the news about falsely labeled extra virÂgin olive oil have also taken their toll on young Spaniard’s overÂall perÂcepÂtion of the prodÂuct.
The Ministry of Agriculture in Andalusia, Spain’s largest olive oil proÂducÂing region, recently surÂveyed Spaniards and found that young peoÂple are twice as likely to be disÂsatÂisÂfied with the olive oil that they purÂchase as are peoÂple over the age of 50.
The EAE’s report conÂcluded that for now this decreasÂing conÂsumpÂtion would not hamÂper the sector’s ecoÂnomic outÂlook. Íñigo cited increasÂing conÂsumpÂtion in new marÂkets as well as poor harÂvests throughÂout the olive oil world as reaÂsons Spanish exports would be strong and proÂducÂers should not worry yet.
However, he also conÂcluded that this same set of cirÂcumÂstances would conÂtinue to drive the prices of olive oil up and may conÂtinue Spain’s decreasÂing conÂsumpÂtion trend.
“Estimates for the curÂrent camÂpaign point out that as pracÂtiÂcally only our counÂtry is going to expeÂriÂence an increase in its proÂducÂtion, it is foreÂseeÂable Spanish exports also will grow,” Íñigo wrote. ​“This will cause a great price strength, so it does not seem posÂsiÂble that a recovÂery of interÂnal conÂsumpÂtion will occur.”
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