Heat in Europe Is Driving Up Olive Oil Prices

Soaring temperatures in Spain this summer season are anticipated to hit the nation’s olive oil manufacturing, pushing up costs and threatening to additional stoke meals inflation.

Nearly half of the world’s olive oil is produced in Spain, with the U.S. one of many nation’s largest export markets. Prices of most edible oils are already excessive after the war in Ukraine led to shortages of sunflower oil, prompting consumers to hunt options to be used in cooking and as an ingredient in meals merchandise.