In one year, the price of a liter of olive oil increased by 21%, reaching an average of 13.48 euros in March.
A consequence of the exceptional drought which affected Spain, the leading exporter of olive oil in Europe.
Weather that influences bottle prices.
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It has become a luxury product. On supermarket shelves, the price of many olive oil products is on average more than ten euros per liter. “Four months ago, it was 8.80 euros, and now it went to 14.90 euros,” deplores a consumer leaving the supermarket. “It’s not cheap, it’s a budget. If that was all there was to it, but the problem is the whole thing…”adds another, interviewed in the report at the top of this article.
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This reason explains the exorbitant prices of bottles of olive oil
In less than a year, the price of a liter of olive oil has increased by 21%, reaching an average of 13.48 euros in March, according to the company NielsenIQ. The reason ? The exceptional drought which affected Spain, the leading exporter of olive oil in Europe.
In December, Paco Canet, an olive grower from Andalusia, revealed to one of our teams the impact of the drought on his production. “Look at this olive tree, you can see how small it is. It doesn’t live. The olive tree is not completely dry, it has leaves, but it doesn’t have fruit,” he explains. Result: its bottles of olive oil will increase by four euros this year.
A harvest that looks good, prices that could remain stable
The opportunity nevertheless for French producers to be more competitive on the shelves. “We need to prune the inside (of the olive trees, Editor’s note) so that they are well ventilated,” announces Murielle De le Torre, olive grower and olive oil producer from Hérault, advancing with a determined step between two rows of olive trees, a branch cutter in hand.
After two years of drought, the rain of the last ten days has allowed good flowering in the Occitanie department. “This year we made around 5000 – 6000 liters, over the coming year I hope to make 1000 to 1500 liters more”, rejoices the olive grower in the report above. With such a promising harvest in October, prices from this French producer will remain stable until next year.
