Olive oil suppliers warn Russian retailers of rising prices

Wholesalers and retailers report a significant increase in purchase prices for olive oil. All major olive oil suppliers (from Spain, Greece, Italy) have begun to warn of a rise in purchase prices since the beginning of the year - an increase of up to 60%, a Lenta representative told Shopper's. A source in another trading network also says that for some positions the increase reaches 50%. A representative of Lenta noted that prices on the shelf are not growing yet, since the retailer is still working on the same stocks. How much they will be enough and when an increase in retail is possible, he did not answer. “The rise in shelf prices will be gradual to ease the process for shoppers – the first phase took place in July, the second is expected in August,” said a second Shopper’s source. Vkusvill knows that wholesale prices for olive oil are rising, a spokesman for the retailer says. But so far the company has not purchased it at the new prices. None of them name prices. According ...