Olive oil price
As the cost of olive oil continues to rise amidst the current cost-of-living crisis, consumers are seeking alternatives to mitigate the impact on their budgets. The soaring prices, which have surged by an average of 89% in the past two years, are attributed to various factors including extreme weather conditions such as last year’s record-breaking summer and heat-related wildfires that have affected olive groves across Europe.
In response to these price hikes, shoppers are exploring strategies to reduce their reliance on olive oil or find more affordable substitutes. While olive oil is renowned for its flavor and health benefits, including its association with the Mediterranean diet and its potential to protect against heart disease and other illnesses, consumers are considering alternative cooking oils that offer similar health benefits at a lower cost.
For those prioritizing health benefits, unrefined oils labeled as “virgin”, “extra virgin“, or “cold-pressed” are recommended choices. These oils retain more of their healthy compounds compared to refined oils, which undergo processing and chemical treatment to extend shelf life but may lose some nutritional value in the process.
When taste is paramount, butter can serve as a flavorful substitute for olive oil, though the final result may differ slightly. However, for recipes where the taste of olive oil is less critical, neutral-flavored alternatives such as rapeseed or sunflower oil offer cost-effective options that are readily available in the market. Rapeseed oil, in particular, is touted as a suitable replacement for olive oil due to its lower carbon emissions when locally sourced and its nutritional profile, rich in monounsaturated fats, vitamin E, and omega fatty acids that support various bodily functions.
Ultimately, if olive oil plays a pivotal role as a finishing touch in a dish, opting for the authentic product may be worth the splurge, albeit in moderate quantities. As consumers navigate the challenges posed by escalating olive oil prices, exploring these alternatives can help alleviate the financial strain while still maintaining culinary enjoyment and health-conscious choices.
Source: theweek.com/culture-life/food-drink/olive-oil-alternatives