Focus on: the Rising Cost of Olive Oil in the UK

In recent months, the price of olive oil has seen a dramatic increase across the European Union, with a staggering 50% hike over just one year. This surge in prices is impacting consumers and businesses alike, raising concerns and prompting questions about the underlying reasons and future implications.

Here, Atlante delves into the complexities behind this significant price rise, exploring the multifaceted causes, including environmental challenges and criminal activities, and providing guidance on selecting quality olive oil.

WHY ARE OLIVE OIL PRICES SKYROCKETING?

Poor Harvests and Environmental Impact:

The primary driver behind the rising cost is a series of poor harvests across major producing countries such as Spain, Portugal, and Greece. Experts attribute this decline in production to several years of extreme weather conditions exacerbated by climate change, including severe droughts and unusual rainfall patterns. These environmental challenges have led to reduced yields and diminished olive oil output.

Reduced Global Production:

Data indicates that global production of olive oil has decreased significantly, with an overall drop in output of around 36% over the past five years. Specific figures from Spain, the largest producer, show a dramatic 62% reduction in production last year alone, creating a ripple effect on pricing and availability worldwide.

Increasing Demand Versus Falling Supply:

Despite a slight decrease in global consumption, the demand for olive oil remains robust, particularly in Europe, which is the leading consumer worldwide. The mismatch between dwindling supply due to poor harvests and steady demand has naturally driven prices upward, making olive oil less accessible for many.

Looking Ahead

The future of the olive oil market remains uncertain, with environmental issues expected to continue influencing production and cost to the consumer. However, understanding these market dynamics allows consumers and businesses to make more informed decisions.

EXPLORE OUR CURRENT OFFER

In response to the escalating costs of olive oil, Atlante is offering a limited-time offer on the superior IGP category of different-sized and branded products, including 100% Italian IGP 750ml Calabrian Extra Virgin Olive Oil at  £7.99 per unit.

Take advantage of this offer by getting in touch with our team, below.

 Only a few pallets remain of our exclusive Olive Oil offer

PRICE: £7.99 per unit, reduced from £8.50 

100% Italian IGP Calabrian Extra Virgin Olive Oil,

Brogna IGP - 750ml

Product Description:

• 100% Italian Extra Virgin Olive Oil

• Superior IGP Category

• Cold press extraction at  T<27°C