Accuracy: The “jump” in olive oil prices is shocking – it “reached” 21 euros per liter on the shelf – Newsbomb – News

“Football” with lower prices making olive oil in the new year With consumers fearful of rising prices that seem unstoppable.

Extra Virgin Olive Oil 4L sold on 12/6/23 for €49.99, While at 06/24/24 hours 61.00 euros, That is an increase of 11.01 euros. Extra virgin olive oil 5Its price on 6/12/23 was €58 and €65 on 6/1/24, an increase of €7 or 12.06%.

“Multiply” olive oil at €21/litre on the shelf

Consumers are having to reach into their pockets Large containers are priced at around 15 euros per litre, while the cost of packaging and transportation becomes unattainable for a liter container as the price there reaches 21 euros/litre.

Extra Virgin (Coronavirus) 750 ml: 15.75 euros, price per liter (1000 ml): 21 euros.

Same time There are estimates that prices will rise further because oil is expensive It is also becoming scarce because production does not meet demand.

This year, oil production in Ierapetra is estimated to fall to 2,000 tons. While two years ago it reached 12,500 tons. Somehow, a few days before the end of the olive growing season in the municipality of Irpatra, there was a decrease in production of -84%.

Skyrocketing prices for premium organic olive oils

At the same time, dizziness occurs due to Increases in premium organic olive oils Which of course are aimed at a smaller number of consumers and are used for more exclusive occasions, but they also have their market share.

Basil flavored olive oil:

Price for 100 ml: €4.20 (12/06/23)

Price for 100 ml: €5.50 (01/06/24)

Liter price: From 42 euros to 55 euros

He increases: 13 euros or 30.95%

On the other hand, It's not just about reduced quantity, but also about quality Which this year creates problems, and so on Good olive oil is hard to find and very expensive.

The quality of olive oil this year due to bitterness, glospora and high temperatures is not good, as the average acidity recorded so far ranges from 1.3 to 1.4 while extra virgin olive oil reaches 0.7 line is the minimum and is paid in some cases more than 9 euros per kilo. .

Consumers are looking for deals

Consumers are trying to find offers that will bring olive oil to their table at a reasonable price. The price of private label products that come first in searches with the price never again falling below €10 per liter in virgin products in the 12 characteristics:

1 liter olive oil (refined and virgin): 9.95 euros

Olive oil 1 liter (extra virgin): 12.92 euros

1 liter olive oil (refined and virgin): 9.85 euros

Olive oil 1 liter (extra virgin): 11.95 euros

Paradoxes of the olive oil market

At the same time, it is surprising that for the same product, olive oil, online stores seem to lag behind supermarkets, which manage to sell the same product at a cheaper price:

Extra virgin olive oil 4 liters in:

• Online store: starting from €61 + €6 shipping: €67
• Supermarket: €54.20 – free shipping

Betting on consumer poverty and empty wallets At the same time, clever people who are quick to take advantage of buyers' ignorance make a big fuss, but often fall into the hands of the police who constantly identify and confiscate suspicious batches of olive oil of questionable quality.

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