Understanding the Rising Prices of Olive Oil

Understanding the Rising Prices of Olive Oil

An Icon of the Mediterranean

Olive oil has been an indispensable part of the Mediterranean diet and culture for millennia, deeply ingrained in the culinary traditions and daily lives of people across the region. With its origins dating back thousands of years, olive oil has played a multifaceted role, not just as a source of sustenance, but also as a symbol of prosperity, health, and cultural identity.

Beyond its culinary significance, olive oil production has been central to the socioeconomic fabric of Mediterranean societies, providing livelihoods for countless farmers, artisans, and families who have cultivated and harvested olives for generations. Today, as interest in healthy eating and traditional diets continues to grow, olive oil remains a cherished staple for its timeless appeal.

The Impact On Olive Oil Production

In the last few years, olive oil producers have unfortunately faced unprecedented challenges posed by unpredictable weather conditions and temperature patterns. This has significantly impacted olive tree cultivation, disrupting the delicate balance required for optimal growth and productivity. 

All the major olive oil producing regions across Europe have been afflicted by varying extreme weather events, from heatwaves to wildfires, extended periods of drought, heavy rainfalls and floods. The effects have been devastating and have led to lower harvest seasons.

Southern Europe accounts for more than half of global olive oil production and has felt the greatest impact. The effects of a two-year drought resulted in Spain producing half of its usual crop, a country which typically accounts for about 40% of the world's olive oil supply. According to EU commission data, in 2023 Spain experienced a 56% decrease in production compared to 2022, while Italy saw a 27% decrease, and Portugal's production declined by 39%.

The reduced supply has consequently caused a surge in olive oil prices, which are being experienced globally.

As a business, we have worked to keep our prices as low as possible as we strive to maintain affordability for our valued customers and ensure accessibility to our products, and remain committed to delivering premium products at competitive prices.

Investing in Health & Environmental Sustainability

For many individuals, health and well-being are paramount concerns, leading them to allocate a significant portion of their budget towards high-quality, nutritious foods even if they come with a higher price tag. They prioritise products that contribute to their physical health and overall wellness, recognising the long-term benefits of investing in their diet. 

This certainly aligns with our ethos, as a guiding principle within our family has always been to prioritise quality over quantity when it comes to our food choices. Directing our budget towards items that contribute to our well-being and environmental sustainability.

Since our food choices extend beyond our personal health, influencing the preservation of heritage crops and the livelihoods of the farmers who cultivate them. This not only contributes to the resilience and sustainability of their local economies, but also ensures the continuation of traditional farming practices, promotes food security and preserves cultural heritage.

Maximising your Investment

To ensure value for money, consider implementing the following: 

  • While high-quality extra virgin olive oil might have a higher upfront cost, using it primarily in its raw form ensures that your maximising your investment as a consumer without compromising on flavour or nutrition. Using it in its uncooked form can include, incorporating it in salad dressings or as a finishing oil drizzled over cooked dishes. 

  • Familiarise yourself with guidelines to authenticate olive oil and avoid fraudulent products. Look for certifications, check labels for origin and quality standards, and purchase from reputable sources. For more information on how to validate the authenticity of your purchase, refer to our previous blogpost. 
  • Purchase in bulk as buying olive oil in larger quantities often comes with discounts. Ensure proper storage to maintain quality over time, store in a cool, dark place away from heat and light to prevent oxidation and rancidity.

Enjoy a 15% discount when you purchase any 6 of our premium, multi-award winning Extra Virgin Olive Oil. Use code '15OFF' or click on this link, and the discount will be applied at checkout.

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