Price of olive oil expected to rise again as European crops feel the heat

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Price of olive oil expected to rise again as European crops feel the heat

The Guardian · 4 hours ago

European farmers are warning of falling food production and rising prices after extreme heat, drought and wildfires damaged crops across the continent this summer. Olive oil, already expensive following previous price spikes, is expected to rise further as groves in Greece, Italy and Portugal have been hit by fire, ash and poor air quality, while other affected produce ranges from grapes and cereals to salad vegetables and citrus fruit.

France's Légumes de France association reported thousands of tonnes of vegetables lost, with some crop yields expected to halve, while Champagne growers now anticipate their earliest-ever harvest, around 15 August, with yields down roughly 10% on last year. Spain's cereal crop is forecast to fall from 24m to about 18.5m tonnes, even before wildfire damage is accounted for, and the EU has cut harvest predictions for sunflowers (down 7%), maize (down 6%) and potatoes and soya beans (down 3%). Not all countries have suffered equally, with Romania benefiting from more rain and Italy's wheat crop holding up well, but industry groups say the overriding concern is rising production costs rather than trade disruption.

  • Olive oil prices set to rise again after heat, drought and wildfires hit European crops
  • French vegetable and grape harvests badly affected; Champagne picking starts unusually early
  • Spain's cereal crop forecast down sharply; EU cuts sunflower and maize yield estimates

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