Despite a slight drop in early February, olive oil prices in Italy have now stabilized, with extra virgin olive oil averaging at 9.55 euros per kilo. However, the country's olive oil production is declining due to the abandonment of approximately 2,000,000 hectares of olive groves. Gennaro Sicolo, the president of Italia Olivicola, has criticized the lack of attention from national politics and the EU towards this issue, emphasizing that climate change necessitates a policy shift for the benefit of consumers and the national economy.