Extra Virgin Olive Oil, Speculation or what?

You must have a lot of spare time. 😎

Increase in prices is only to be expected. 

It’s been well documented in the media that the heatwave this year has decimated the olive crop.

Yes I know it’s already on the shelf so prices shouldn’t change - but somehow that’s not the way it works in retail.

Lynn

As a 70+ pensioner I don't exactly have a lot of obligations, It's a permanent holiday with a poor state pension, we save where we can and we have 5 supermarkets to choose from within a 10 minute walk. Last big bottle of Marmite 3.90 Euros!

Bit early for this year's production to be on the shelves?

Speculation, profiteering or downright ripoff?

M

BTW. Italy is talking about production costs of 15E/L this year, Methinks I'll be looking out for some more at 6.49!

Hello

 I bought a 1 litre bottle yesterday from Dialprix....every brand was the same, about  €7. 60 -- €8.... I couldnt be bothered to look elsewhere, , just a few cents in it, not a massive difference 

Cheers

Elinspain]

Last year's olive oil output was very low and this year's harvest will be the second time in a row that production only reaches half of normal.

Of course, the stuff already bottled is also in short supply and this is where normal economic rules of supply and demand comes in. Demand outstripping supply so prices rise. 

As Spanish olive oil is added to many other countries' stocks (Italy and Greece, for example) then that will have a knock on effect.

Basically, we've stopped buying extra virgin and now get the virgin but that's going up as well. May have to go down to intense in future. 

Yes, this year the lower price it's about 6€/L . My neighbourg and I have olive trees and when the production is nice, we sell olive oil. So keep my box-mail and from december we can sell some bottles of 5L. Generally we keep them for us, consume for all year. I consume 30L per year, 6 bottles. :)

It depends the weather, the wind, the dew, the mist and the rains. If they don't come in its appropriate time, it affects the production. This year, the rain came tardily, and whom forgot to water the trees will have near no olive. So the price increase because less production.

Italy and greece was affected by a disease of the tree, a virus, maybe the reason of less production. Marroco increase their production, and enter the speculators.

3 years ago, we could buy the bottle of 5L at 18€, last year it was around 22€ and this year, in january about 23€, directly from press companies.

Probably this year will be around 25€ for 5L.