Olive oil may become unaffordable for Spaniards – El Mundo ...News

Economy by : (Russia Today) -
Prices for this basic item surged 115% year-on-year in August, data shows     Spanish authorities are sounding the alarm over olive oil prices, which continue to rise and may eventually turn this Mediterranean staple into a “gourmet product,” the newspaper El Mundo reported, citing sources in the Ministry of Agriculture.      Olive oil from Andalusia soared to €8.20 ($8.90) per liter last week, marking the highest price ever recorded for Spanish olive oil, according to data from Mintec, representing a 115% year-on-year increase. Meanwhile, the price surge continues.     “The market takes it for granted that price

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