Increase in the price of olive oil reduces consumption in Portugal

Published 2023년 12월 4일

Tridge summary

The increase in olive oil prices in Portugal due to global shortages is leading to a decrease in consumption, as the cost is becoming prohibitive for those with lower incomes. The olive sector is concerned that olive oil will be replaced by less healthy fats, such as olive pomace oil. Farmers are already experiencing the impact of the high prices, with some choosing to save their own oil rather than buying it at the expensive rate.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The increase in the price of olive oil due to global shortages is reducing consumption in Portugal. A liter can reach the consumer costing ten or more euros and the cost begins to be prohibitive for people with lower incomes. The olive sector is already looking at the trend with concern and fears that olive oil will begin to be replaced by other less healthy fats, such as olive pomace oil. João Veiga, a farmer from Sabrosa, in the Vila Real district, predicts that his olive harvest this year will yield "between 30 and 40 liters" of oil. It is only for his and his wife's consumption. But to avoid having to buy more, he assures that he will have to "save" it. "And then at the price it is this year... Wow!" Fellow countryman Francisco Silva will have less oil this year and will keep it all. You are not going to sell. Prefer to reserve so as not to run the risk of having to buy later at ten euros a liter. A prohibitive price for some people who "do not have financial possibilities". ...
Source: Tsf

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