A study by Piepoli research institute indicates that a third of Italians have cut their extra virgin olive oil consumption by at least 30% due to a price hike from €4 to €9 per bottle. This is in response to a 56% drop in production from the world's largest olive oil producer, attributed to droughts, which could potentially cause a 40% decrease in European olive oil production in the 2022-2023 season. Despite this, Italian producers dispute the accuracy of the data, arguing that the higher prices have helped differentiate between low-quality and premium olive oils.
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Original content
A third of Italians have reduced their consumption of echtin because of the price hike. This is shown by the results of a study cited by AP. According to the study by the independent research institute Piepoli, consumers have reduced their consumption of extra virgin olive oil by at least 30% and even halved, as average prices in supermarkets have risen from €4 to €9 per bottle. The world's largest olive oil producer reports a 56% drop in production Due to droughts: European olive oil production could collapse by 40% in the 2022-2023 season. Half of the respondents replace it with oil from seeds. The results are worrying, but still better than in other Mediterranean countries, where olive oil is also traditionally present on the table. Two years of drought have hit production in Spain and pushed up global prices, with sales there and in Greece down by a third. Heatwaves in Europe threaten global olive oil supplies A crisis in the industry? Business disagrees According to the ...
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