oliveoilindustry
The pandemic, soaring interest rates and geopolitical conflicts have resulted in the price of many UK food staples, including olive oil, baked beans and granulated white sugar, rising dramatically. A new study has outlined where prices could go over the next few years. Which products are expected to be most expensive by 2030?According to the online shopping platform BravoVoucher, by 2030, olive oil is expected to be one of the most impacted products. Its price has risen by 113.8% between 2019 and 2024 (to £8.04 by March 2024) for a 500ml 1 litre bottle. Now, BravoVoucher estimates that if infl...
Euronews (English)
Spain is to temporarily abolish the sales tax on olive oil to help consumers cope with soaring prices, the Spanish government has said. Spain is the world's leading producer and exporter of olive oil, but its cost for domestic consumers has risen dramatically because of continuing inflation and a prolonged drought that has decimated supplies. Prices have also risen sharply elsewhere in the Mediterranean. The price of olive oil has shot up by 272% since September 2020, according to Spain's agriculture ministry. A five-litre bottle of olive oil from a Spanish supermarket can cost more than €50. ...
Euronews (English)
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