So far the crop in Spain seems to be rather good, and both the hojiblanca and manzanilla crops are expected to be about 10% to 12% over last year’s crop. The queen olives crop will also be larger.

If weather conditions continue normal, with some rains, it will help to have higher percentage of large size olives.

Because we do not expect any important salary increase, and because most of the other components of the production will suffer no increases, we believe there should be a drop in prices, if speculation is not a factor.