Olive oil prices increase due to the war in Ukraine
After months of Russian hostilities in Ukraine and signs of an economic downturn, the olive oil sector is suffering across Europe. According to the European Commission’s summer report on the EU agricultural market, world agricultural prices have soared by 30% since the start of the invasion, largely due to the general increase in production costs (fertilisers, electricity, heating, transport, refrigeration, etc.) linked to the activity. Uncertainty and lower expectations for olive production in the coming year are also playing a role. The Commission also estimates that these higher production prices will gradually be passed on to the prices paid by...