Olive oil price surges, consider alternative oils

ABC News April 26, 2024, 11:00 PM UTC

Summary: The price of olive oil has surged due to drought in Spain, with a 71% increase in the last year. Chef Kirsten Bacon suggests alternatives like sunflower oil ($0.65/100ml), coconut oil ($1.20/100ml), canola oil ($0.56/100ml), rice bran oil ($0.70/100ml), and sesame oil ($2-3/100ml). Australia's olive harvest is affected, with a good harvest not expected until 2025. International prices may decrease after Europe's harvest season.

Full article

Article metrics
Significance5.1
Scale7.0
Magnitude6.0
Potential6.5
Novelty4.0
Actionability8.0
Immediacy7.5
Positivity5.0
Credibility9.0

Timeline:

  1. [3.0]
    Olive oil prices to exceed £16/l due to production drop (The Guardian)
    6d
    Source
  2. [4.4]
    Deoleo warns of challenges in olive oil sector (CNBC)
    11d
    Source
  3. [4.4]
    Olive oil shortage drives record price spike (CNBC)
    11d
    Source