Why it matters: Cobram Estate is the country’s largest producer of olive oil
Poor growing conditions have meant the harvest has been lower than expected
Analysts expect olive oil prices to rise after they jumped 77 per cent in Europe
Cobram Estate, the country’s largest olive grower, said its harvest has been lower than expected, pushed down by an unusually cold and short season.
Last month, the company said it expected the combined harvest from its Australian olive groves would produce between 12.6 million and 13.2 million litres of olive oil, about 25 per cent below earlier expectations. On Tuesday, however, Cobram Estate said final production had been 12.5 million litres.
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Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at jo.tran@afr.com
