Paphos People

The price of olive oil is set to skyrocket to as much as €10 per litre by the end of the year, and as much as €15 in Europe, farmers associations said on Wednesday.

Price increases have been forecast due to production of olive oil being negatively affected by adverse weather in Spain and Italy as well as Cyprus, which are the largest olive oil producing countries in the world.

Local farmers’ union PEA chairman Kyriakos Kailas told the Cyprus News Agency (CNA) that extra virgin olive oil prices have doubled in the last year and called on producers to “respect consumers and not make disproportionate increases in olive oil prices.”

He said at present, the international going rate for olive oil is around €8.60 per litre, adding that global olive oil production has halved.

More here:- https://cyprus-mail.com/2023/09/21/price-rises-for-olive-oil-make-it-a-luxury-item/

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Dave
Moira And Dave

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