Argentine olive oil producers at a "standstill" as rising costs, exchange rate take major toll

11/4/2013 | Olive Oil Times

Increasing production costs, domestic trade policies and a detrimental exchange rate are taking a toll on Argentina's export-based olive oil industry. The industry has sustained widespread layoffs and plant closures, especially among larger manufacturers. "We're at a standstill," said Rafael Camacho of Angel Camacho's processing facility in Mendoza, which has slashed its workforce from 25 to seven. "There are no export orders coming in because we're not competitive due to the exchange rate lag. Right now it's cheaper to bring in olives from Spain than it is to produce them in Mendoza."

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