Spanish Olive Trees Find New Home on Hungary’s Slopes as Climate Warms

 A person holds a plate of olives at Babylonstoren at the foot of Simonsberg in the Franschhoek valley in Cape Town, South Africa, September 12, 2024. (Reuters)
A person holds a plate of olives at Babylonstoren at the foot of Simonsberg in the Franschhoek valley in Cape Town, South Africa, September 12, 2024. (Reuters)
TT

Spanish Olive Trees Find New Home on Hungary’s Slopes as Climate Warms

 A person holds a plate of olives at Babylonstoren at the foot of Simonsberg in the Franschhoek valley in Cape Town, South Africa, September 12, 2024. (Reuters)
A person holds a plate of olives at Babylonstoren at the foot of Simonsberg in the Franschhoek valley in Cape Town, South Africa, September 12, 2024. (Reuters)

Csaba Torok, who grows olives on Hungary's warm southern slopes near Lake Balaton, believes his trees from southern Europe have found a successful new home as Europe's climate gets warmer.

Torok, 55, got his first three small olive trees from Spain around 2008. Two froze to death the first winter but one survived, prompting Torok to buy around 200 more over the years to plant in his vineyard on Hegymagas, a volcanic butte formation with sunny slopes, ample rain and rich soil.

"I see these trees as an integral part of the future landscape here," Torok said, as he harvested the olives with friends, noting the local microclimate increasingly suits the trees.

He takes his hand-picked olive crop to neighboring Slovenia where his virgin olive oil is made and which he sells for 4500 forints ($12.35) per 0.1 liters.

As southern Europe is hit by more frequent droughts and scorching heatwaves, the areas where olive groves can flourish appear to be shifting northwards, he said.

Hungary's winters have become palpably milder over the past years. Europe is the fastest warming continent in the world, the European Environment Agency said last month, and faces a greater risk of drought in the south.

Spain, which usually supplies around 40% of the world's olive oil, has suffered poor olive harvests in the past two years due to heatwaves and a prolonged drought, doubling olive oil prices to record levels.

Last week, the Spanish farm ministry said the first estimates for this year's harvest indicated a recovery, with 2024-2025 olive production forecast at 1,262,300 tons, up 48% from the previous harvest.

In southern Hungary, near the city of Pecs, Gabor Stix has been experimenting with an olive grove for years, cultivating trees for sale. Stix expects all his trees grown this year to be sold by March.

"Olive trees love this climate. ... One would think Hungary is not suitable for olive production, but it is," Stix said.

Even north of Hungary, in Slovakia, people have been buying olive trees for their gardens to have a "Mediterranean feeling". In the village of Iza, garden center owner Istvan Vass has imported 25 truckloads of olive trees from Spain this year, selling them for 300-500 euros each.

As buyers arrived to choose trees, Vass warned that during the first winter the trees might suffer damage from sub-zero temperatures, but covering them helps.

"There are lots of olive trees planted outside in the gardens and they cope really well," he said.



Labubu-Maker Pop Mart Diversifies into Jewellery with New Concept Store 

A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
TT

Labubu-Maker Pop Mart Diversifies into Jewellery with New Concept Store 

A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)
A not for sale Labubu figure (L) and Labubu stickers are seen at a Pop Mart shop in Beijing on June 12, 2025. (AFP)

"Blind box" toymaker Pop Mart, which has seen frenzied sales worldwide for products related to its ugly-cute Labubu character, opened its first jewellery store in Shanghai on Friday.

The jewellery concept store, called Popop, sells accessories adorned with Pop Mart's top-selling characters, including Labubu, Molly and Skullpanda.

While Chinese consumption remains subdued in the face of a prolonged property downturn and sluggish economy, Pop Mart's affordable and adorable toys have remained in high demand both at home and abroad, driving its share price up more than 200% so far this year.

Investor Zhang Ming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company.

"I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney," Zhang said, predicting that the company's market cap could double from its current $45.65 billion valuation.

Along with some Disney characters and others related to anime, comics and popular video games, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers spend on affordable luxuries that bring joy into their lives.

Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening.

"I've loved Pop Mart for a long time; it's good-looking, brightly colored, and also has a visual impact," she said. "My daughter likes it too."

At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan.

At a traditional Pop Mart store, the "blind box" toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions.

Earlier this week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy's switch from craze to collectible.