World: Olive oil may become scarce

Prices for it have already increased significantly in Europe and America. And this summer's extreme weather conditions could make olive oil a scarce commodity next year. Spain is the world's main producer of olive oil, growing about half of the world's olive crop. According to experts, for the food service industry, olive oil production in Spain is similar in importance to oil production in Saudi Arabia for the energy industry, writes The Wall Street Journal. Typically, Spain produces about 1.4 million tons of olive oil per year. This is enough to fill about 3 billion half-liter bottles. But the drought has cut the 2022 harvest by about half. This ...