Olive oil prices up! What’s the deal Roy??
Well, Italy reported terrible crop yield this year citing pests and drought as causes. Their production yield is down 15% at least. This translates a 20 to 25% increase in the stores and to your favorite restaurant. These facts are amazing to me; Italy that culturally large but geographically small ” boot” consumes 35% of the worlds olive oil, Spain consumes 30% of the produced oil.I was talking to an Italian friend and she told me that she buys 90 liters a year of oil for her family . Wow! That’s a bunch. That’s pretty common in Italy for a family of 4. That’s about 22 gallons a year or 8 ounces per day.
All that being said, restaurants are faced with using a lower grade of oil, raising prices or going to another planet to start a new life.******** 0f course we won’t abandon olive oil in our cooking, recipes and baking but it might slow down the consumption of olive oil shooters and coffee with an olive oil chaser. Hail the olive! Touted as healthy in (dietary )moderation and even mentioned in religious scriptures. I did plant two olive trees downtown, but I don’t think they will supply us our needs.