Consumers will soon witness the rising costs of imported extra virgin olive oil, and Mother Nature may be one reason. The bad weather this past year has affected imported olive oil production, with a global production dropping 27%, from 3.2 million tons in 2013 to 2.4 million tons in 2014. But weather may only be one variable that has led to the drop in production.
“What we have is bad weather at the wrong times; we have olive fruit fly, which is having a heyday out there. And in the heel of the boot in Apulia, Italy, you even have a bacteria called Xylella Fastidiosa, which came out of nowhere and destroyed almost 1 million trees,” said Curtis Cord, Publisher of Olive Oil Times, according to a recent article in NPR.
The drop in production has led to an increase in the price of extra virgin olive oil, said a November 2014 report released by the International Olive Council. The price directly brought from a producer sold at $3.27 at the end of November, a 121% increase from November 2013. With this increase, local retailers will be forced to hike up their prices.
Consumers can take comfort in knowing that the rising cost of imported extra virgin olive oils will not affect Salud de Paloma affordable selection of oils. Find out where you can purchase our extra virgin olive oil!