Bad weather in May and June and drought in the summer months put pressure on olive oil production in Italy. A liter will soon cost the consumer eleven euros. Producers fear the drop in production could increase the trade in adulterated oil.
The price increase is also due to the fact that production costs have increased due to the drought and low production throughout the Mediterranean region. The price of olive oil will not decrease for at least the next two years.
“We expect a price increase of 30 to 40 percent at wholesale level for the coming olive growing season. We producers will sell a liter of oil for nine euros per kilo and on the shelves the Italian oil will cost ten to eleven euros per liter. , which represents an increase of 30 percent for the end consumer compared to last year,” reports Gennaro Sicolo, president of Italia Olivicola, the largest national organization of olive producers.
Italian producers fear the drop in production could increase the trade in adulterated oil. Experts complain that food safety standards outside the EU are lower.
Source: Krone
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