Impact of summer 2022: Olive oil price on the rise

The price of our olive oil is on the rise and it's because of the weather. Here's why.

The drought and heatwaves from summer of 2022 have led to a dramatic reduction in the olive harvest across regions that we rely on for production.

This led to smaller harvests for many, and with a lower supply, cost gets higher with a 30% to 50% price increase expected in the liquid gold in our supermarkets.

In Spain, where they produce approximately half the world's olive oil, production is down 50%, while in Italy it is expected to be down 37%.

Additionally in Italy, there has been a reduction in sunflower oil due to the war in Ukraine. Ukraine produces half the world's sunflower oil, so it's not just olive oil that will be on the rise.

Unfortunately, a large proportion of our crops are facing uncertainty due to the weather's increasing volatility in the face of climate change.