World's largest olive oil company in Spain lost €179 million last year

The most popular olive in the US is the wrinkled black olives used on pizza

THE world’s largest olive oil company is close to collapse after posting a €179 million loss in 2016.

Spanish firm Deoleo, the world’s largest bottler of brands including Carbonell, Hojiblanca and Kiope, saw its turnover drop by 15% to €695 million following a surge in the price of olive oil.

Its sales also dropped by 22% after a ‘strategic’ decision to make profitable sales a priority.

Prices jumped last year due to poor harvests in Spain and Italy, the world’s top producers.

A bacteria outbreak in southern Italy which infected at least a million trees also led to the country’s lowest harvest in 25 years.

Deoleo will now sell its factory in Antequera and also plans to dismiss workers in its offices, although it is not clear how many will lose their jobs.

Deloeo has said its strategy is focused on consumers’ needs and the quality of its products.

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Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

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