l) Since the EU produces 3/4 of world’s olive oil, what do you expect the prices of this
product to be if there are severe weather events damaged olive oil crops (as it
happened m in Italy and Spain recently) every other year? What do you expect the
demand, prices and Incomes of rapeseed farmers ‘ to evolve?
2) The article suggests that land values may decrease in the Southern and Southwest of
Europe as the climate changes. Given that olive oil is one of the most profitable crops
in Mediterranean regions. Critical appraise such claim. Hint: you may want to discuss
you expect this devaluation will be observed across the region or if are there areas that
may be less affected and why.