olive oil spike

[Enrique Diaz-Alvarez]

Greg Nowell wrote:
> 
> This is an issue of central importance in our
> household.  Would the person who posted that he had
> seen a spike in Spain before it reached here, please
> say, where and how he figured out that there was a
> spike in order to commence proper hoarding?  I check
> futures markets periodically but don't recall seeing
> olive oil.
> 

It wasn't very scientific I read about the harvests in Spanish
newspapers on the internet, and my mom confirmed that prices there had
more than doubled. I ran to the grocery store, and they were still
selling it at the old prices. so I bought three gallons (enough to get
me through until the next harvest). Neat arbitraging, I netted roughly
$40.

For more specific data look at

http://www.oliva.net/pool/mol.htm

"Grafico de evolucion de precios" is a long term look at prices, updated
monthly, with a 3-month lag. For up-to-date information go to "Precios
actualizados". No big changes in the last three months. It's in Spanish,
with the prices in pesetas/kg for virgin, refined and shitty (they don't
call it that), but should be understandable. The prices have come down a
lot, but I don't think US prices fully reflect this fall. 

(1$=140 pesetas, give or take).

Cheers,

-- 
Enrique Diaz-Alvarez            Office # (607) 255 5034	
Electrical Engineering          Home #   (607) 758 8962
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