Europe is preparing for an olive oil shortage

Europe has nearly exhausted local supplies of olive oil, with even greater shortages expected after extreme weather damaged crops for a second year. Heat waves in the Mediterranean have damaged crops and forced producers to import produce from South America. Agroexpert.md writes about this with reference to theguardian.com. The world's largest producer said it had to import supplies from South America to meet demand. “Today it is almost physically impossible to buy olive oil. It's sold out,” said Walter Zanre, chief executive of Filippo Berio's UK division. Olive trees have been grown across the Mediterranean for millennia, with Spain alone producing half the world's olive oil supply, but bushfires and high summer temperatures mean the future of this ancient industry is looking increasingly uncertain. According to the International Olive Council, global production is expected to fall to 2.4 million tonnes, less than last year's harvest and well below global demand of about 3 ...