Soaring olive oil prices hurt sales of ‘liquid gold’ in Mediterranean heartland

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Financial Times 5d ago

Soaring olive oil prices hurt sales of ‘liquid gold’ in Mediterranean heartland - Financial Times

Quick Summary:

In Spain, where olive oil is a pillar of the agricultural economy in the south, anxious farmers are hoping that spring rains and less brutal summer temperatures will lead to an improved harvest from October to January.

Earlier this year, the EU statistics office reported increases in all the countries in the bloc, with shoppers in Portugal, Greece and Spain facing year-on-year price rises of more than 60 per cent.

In Italy, a recent poll by the Piepoli Institute found that nearly a third of consumers had cut back on extra olive oil as prices have risen to €9 a bottle.