As crude oil soars, olive oil price at rock bottom

The olive oil industry is “on its knees” as high production volumes are squeezing commodity prices to record lows. Olive oil has been an anomaly in the edible oils sector over the past two years. At a time when the price of other oils has soared – driven in part by the rising price of crude oil – olive oil prices have nosedived. According to suppliers, Spanish olive oil is currently going for about €2.20/kg, while Italian olive oil is on the market for about €2.50/kg.

And in case we needed more argument for conversion to olive oil consumption…