HARVEST UPDATES

CURRENT MARKET CONDITIONS & 2024 PRICING EXPLAINED

As many of you know, the challenges of the last two harvests have resulted in lower stocks and dramatic price increases. Thankfully, our team in Spain and Italy paid close attention to market conditions before the current situation skyrocketed, causing many market participants to face astronomical prices. Although we are not immune to these price swings, with proper planning and deep relationships in the Mediterranean, we made the necessary commitments last year to help our position in the 2024 market. Our goal is to always provide our customers with the same fresh, highest quality, premium product which you have counted on from us over the past 12 years.

PRIMARY ISSUES CONTRIBUTING TO HIGH EVOO PRICES:

TWO CONSECUTIVE YEARS OF EXTREME DROUGHT IN SPAIN

PURCHASING POWER & RESOURCES AT WORK

OPPORTUNISTIC BUYING

INVENTORY OUTLOOK