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Title: Olive Oil Prices Soar As Top Producer Plagued With Drought
Source: [None]
URL Source: https://www.zerohedge.com/commoditi ... r-top-producer-plagued-drought
Published: May 23, 2023
Author: Tyler Durden
Post Date: 2023-05-23 07:58:59 by Horse
Keywords: None
Views: 41

Spain's severe drought and parched soils have sent olive oil prices to levels not seen in more than a decade. The surge in olive oil prices, along with fresh produce, is exacerbating already high food prices as the Northern Hemisphere summer starts in less than a month.

Data from Bloomberg shows that Spanish extra-virgin olive oil prices have jumped 200% since 2020 to 5,870 euros per metric ton -- the highest level since 2010. Most of the price surge was recorded in the last year.

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