- Latest research has shown that the production of olive oil has plummeted
- Comes in wake of a series of severe crop failures in growing countries
- Supplier has issued warning that retailers are facing higher olive oil prices
Daily Mail Reporter
112
View
comments
Britain’s olive oil lovers could soon face a hike in the price of their healthy Mediterranean mealtime favourite, according to a new report yesterday.
For the latest research shows that production of olive oil has plummeted in the wake of a series of severe crop failures in the major growing countries.
Now a leading supplier has issued a warning that retailers are facing higher olive oil prices and could be forced to reduce shelf space for 100 per cent Italian extra virgin olive oil due to another poor olive harvest.
Britain’s olive oil lovers could soon face a hike in the price of their healthy Mediterranean mealtime favourite
The Filippo Berio brand says that although Spanish olive oil production is forecast to improve this year, the total estimated global production of 2,750,000 tonnes is insufficient to meet the 2,920,000 tonnes of predicted global demand with tighter supplies also pushing up prices.
And as Italian production has remained low, the price of extra virgin olive oil has increased daily since the end of August, with expectations it will continue to rise.
Britain’s shoppers now snap up around 62,000 tonnes of olive oil a year – ten times the amount consumed in 1990 – and the UK is now the world’s tenth biggest olive oil-consuming nation.
Why money-saving meal deals are making your kids fat:…
Why PORRIDGE really is a super food: Eating a regular bowl…
Walter Zanre, managing director of Filippo Berio told trade magazine The Grocer yesterday: ‘During the last four weeks we have seen Italian extra virgin olive oil prices appreciate by over 10per cent and it is still increasing. We fully expect to see a repeat of the 2014-15 situation.’
The magazine said that the olive oil crop in 2014-15 was so poor in Spain and Italy that there was no annual carryover of supply which left bottlers with very low stocks of oil.
Production in Italy for the 2014-15 harvest came in at 222,000 tonnes. It rose in 2015-16 to 350,000 tonnes but it is forecasted to fall again during the 2016-17 season to just 230,000 tonnes.
The Filippo Berio brand says although Spanish olive oil production is forecast to improve this year, the total estimated global production of 2,750,000 tonnes is insufficient to meet demans
The current Italian crop has been affected by pests in particular the olive fly.
‘In our region, Tuscany, forecasts are for less than 50 per cent of normal crop,’ Mr Zanre told The Grocer.
Olive oil production is also struggling in other areas of the world, with Greece, which has had similar pest problems to Italy, forecast to produce 220,000 tonnes of oil for 2016-17, compared with 300,000 tonnes the previous year.
Italy and Greece are the ‘reservoir of quality extra virgin olive oil in the Mediterranean basin,’ said Mr Zanre.
This low production could mean brands struggle to source good olive oil while the production problems continue.
Share or comment on this article
e-mail
Most watched News videos
- CCTV captures final tragic moments of Mirna Salihin’s life
- Mother shaves daughters hair after she ‘bullies cancer girl’
- GRAPHIC CONTENT: ‘Ghost’ rises from body after fatal crash
- Bulls head butt each other then die instantly from brutal blow
- Shocking moment girl gets viciously beaten after starting fight
- Mother releases devastating footage of son’s final moments
- Lorry smashes into car leaving driver with severe injuries
- Is this the creepy moment the corpse of a girl OPENS her eyes?
- ‘Big fat gypsy wedding’ in Romania goes on for FOUR days
- Groom ALREADY tired of marriage life just after 15 minutes
- ‘Pascal’s a G!’ Kim Kardashian speaks well of her bodyguard
- GoPro captures the moment a croc swims amongst swimmers
Donald’s great escape: Trump’s all-out attack on the…
Donald Trump called his pregnant wife Melania ‘a monster’…
Inside Angelina Jolie’s new neighborhood that is so…
‘Bill raped me and Hillary threatened me!’ Trump unveils…
Pictured: The group of teenage friends who were all killed…
Trump called his daughter Ivanka ‘a voluptuous piece of…
Will this be the dirtiest debate ever? Anderson Cooper to…
War? What war? Afghan tribe so remote they didn’t know about…
Florida girl, four, who was abducted from her bed is spotted…
Is Pence planning to drop out of the race? Rumors Indiana…
Streets running with blood and 3,700 dead: After 100 days in…
NBC announces Billy Bush has been suspended indefinitely and…
Comments (112)
Share what you think
-
Newest -
Oldest -
Best rated -
Worst rated
The comments below have not been moderated.
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
Find out now