Olive oil speculators in Bulgaria have appeared in Greece: What is the fraud and how much is olive oil worth in our southern neighbor?

This summer, olive oil prices soared to new records. World olive oil prices reached $8,900 per ton in September. The average price in August was 130% higher than a year earlier and shows "no signs of abating". Prolonged droughts in major producing countries have reduced supplies, and some traders have begun to speculate. It is a fact that a large part of Bulgarians spend their summer vacations in Greece and on their way back stock up, namely with olive oil. However, users of social networks are increasingly reporting that in our southern neighbor, it is not uncommon to come across oil in the markets that is being sold for olive oil, even being labeled. According to consumers in Greece, good extra virgin olive oil is sold at a price between 8-10 euros per liter from the production workshops. For comparison, a year ago the price was 5 euros per liter. It is important to note that olive oil from new vintage workshops is still rare at the moment. Heatwaves in Europe threaten global ...