Olive oil

Prices in the 'Easter basket' are stabilising - Prices of olive oil and chocolate are skyrocketing due to the international rally

One-third of Italians have reduced their consumption of extra virgin olive oil, a mainstay of the Mediterranean diet, due to skyrocketing prices, according to a survey released Friday.

Greece saw the second-highest increase in the price of olive oil since January 2023, with its 67% increase far above the European Union average of 50%, data from the EU's statistics arm showed on Tuesday.

Greece saw the second-highest increase in the price of olive oil since January 2023, with its 67 percent increase far above the European Union average of 50 percent, data from the EU's statistics arm showed on Tuesday.

A 48-year-old man was arrested on Sunday for producing fake olive oil with various substances.

Police have said that a report was made against the man, which was followed by an investigation of the West Attica basement in which the olive oil adulteration took place, and his subsequent arrest.

Shortages of olive oil in the market are expected in the next months, according to cooperative executives, due to lower production and producers' unwillingness to sell, expecting prices above 8-9 euros per kilo.

The concern is that a bigger increase in prices will lead consumers to switch to other products.

The police in Thessaloniki detained two people who imported sunflower oil from Bulgaria, added impurities to it and sold it as extra virgin olive oil, the Greek national television ERT reported.

The fake olive oil was offered both on the Greek and Bulgarian markets.

This year's olive oil production is projected to be drastically reduced, owing not just to previous years' overproduction, which exhausted the trees, but also to a lack of workhands.

The forecasts that said that this year's production would reach 50% of last year's (340,000 tons) now look like an optimistic scenario as the quantity of olive oil produced may fall below 150,000 tons.

These days, think twice before you lavishly ladle olive oil onto your pasta, salad or crusty bread.

Olive oil, a daily staple of Mediterranean cuisine and the life of many a salad throughout Europe, is experiencing a staggering rise in price. It's a prime example of how food still outruns overall inflation in the European Union.

Olive oil producers in Türkiye are facing multiple challenges, including the risk of losing their markets amid turmoil in the global olive market and a ban on exports.

The price of olive oil has been on the rise globally, skyrocketing more than 100 percent, due to drought in European countries and a ban the Turkish government introduced on exports in August.