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When adding olive oil from different groves, you will receive your oils separately and the shipping costs corresponding to each of them will be added.

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Track your order

DIRECT SHIPMENTS FROM THE MILL

When adding olive oil from different groves, you will receive your oils separately and the shipping costs corresponding to each of them will be added.

Extra virgin olive oil prices tipped to top £16 a litre next month

The looming increase in olive oil prices reflects a broader trend of reduced global production, largely driven by various factors including weather extremes and the natural cyclic nature of olive growth. Lower production in key olive oil-producing regions like Greece, Morocco, and Turkey is expected to counterbalance improvements in Spain and Italy, where extreme weather conditions have negatively impacted harvests.

The International Olive Council‘s latest data indicates a significant drop in global production, with just under 2.3 million tonnes expected this year compared to 2.5 million tonnes in the previous year and 3.4 million tonnes in 2022. With demand continuing to surpass supply for the second consecutive year, consumers should anticipate upward pressure on prices.

Industry insiders predict that the price of a litre of mass-market branded extra virgin olive oil could surpass £16 next month, following an earlier increase to around £14. Premium brands like Odysea and Belazu are already retailing for more than £18 per litre, while others like Napolina and Filippo Berio are priced slightly lower but still experiencing increases.

Supply chain challenges and increased production costs are contributing to the rise in prices. Some UK supermarkets have resorted to putting olive oil bottles in security boxes to combat theft, reflecting its status as a highly coveted item.

The surge in olive oil prices is not solely a UK phenomenon but is observed globally, with producer prices skyrocketing in major producing countries like Italy, Spain, and Greece. This has led to consumers exploring alternatives such as sunflower and rapeseed oils.

To mitigate the impact of reduced production, some companies, like Filippo Berio, are sourcing oil from South America. However, challenges in securing supply due to restrictions in countries like Argentina and Chile pose additional hurdles.

Overall, the olive oil market is experiencing significant turbulence, with prices expected to continue rising in the foreseeable future as supply struggles to keep pace with demand amidst ongoing challenges like extreme weather events and supply chain disruptions.

In AceitedelCampo we believe that high quality extra virgin olive oil has its price, however we hope that the current volatility will finally stop.

Source: theguardian.com/business/article/2024/may/07/extra-virgin-olive-oil-prices-global-production

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