{
  "id": 18830695,
  "title": "So much ‘liquid gold’ could hit the market that the world’s top producer is withholding output—but supplies can’t stay ‘extra virgin’ for long",
  "url": "https://urgent.news/2026/11/08/so-much-liquid-gold-could-hit-the-market-that-the-worlds-top-producer",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-08T00:34:52.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/11/07/olive-oil-supplies-prices-liquid-gold-spain-production-harvest-season/"
  },
  "original_language": "en",
  "account": "A record olive oil harvest is poised to flood the market, prompting Spain's leading producer to temporarily withhold 12% of their output. The Spanish government's decision, announced on Friday, aims to stabilize prices and protect farmers' profits, according to the Financial Times. The production surge, projected to increase by 23% to 1.6 million tons, is attributed to favorable spring weather reversing years of drought and heat. However, the olive oil market is expected to see prices drop as the excess supply comes to light. Critics argue that the government's intervention is unnecessary since the market operates globally. Meanwhile, the Quebec Maple Syrup Producers in Canada warn that their strategic reserve will be depleted by February, despite new supplies being produced. The reserve's depletion is due to weather-dependent production and increased demand. In the oil sector, the Strategic Petroleum Reserve in the U.S. has fallen to its lowest level since 1982 due to the Iran war, while China has tapped its strategic pork reserve following a swine fever outbreak.",
  "summary": "Spanish olive oil production is projected to jump 23% to 1.6 millions tons, marking the fourth-largest harvest ever.",
  "key_points": [
    "Spain's top olive oil producer will withhold 12% of output",
    "Record harvest projected to increase by 23% to 1.6 million tons",
    "Quebec Maple Syrup reserve in Canada to run out by February"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}