According to the Instituto Nacional de Estadística (INE), the price of olive oil has gone up 176.5% since January 2021; in other words, it has tripled in three years.

In fact, in just one year, between January 2023 and January 2024, oil went up nearly 63% and according to experts it will continue to rise, although come July, it will go down a little.

The harvest which has just finished produced a total of 775,000 tonnes, which was higher than expected for the 2023-2024 campaign.

Obviously the price of oil on supermarket shelves also contains the cost of packaging and distribution, as well as production, yet this sector (Anierac and Asoliva, for example) says that they are not responsible for this price hike and that they actually saw less profit.

Editorial comment: somebody is making a killing and it is not the farmers.

(News/Noticias: Spain)