Olive oil prices hit 26-year high – data  ...News

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Olive oil prices hit 26-year high – data 
A severe drought in Spain has been blamed for the soaring costs Olive oil prices have surged to record levels due to a prolonged drought in Spain, the world’s largest producer and exporter of the product.    Prices have surged more than 60% since June, and experts warn that consumers will have to brace themselves for further increases. The severe drought that Spain has been experiencing since last summer is now threatening the global olive oil supply, causing prices to spike around the world.  Data from the International Monetary Fund (IMF) showed that global olive oil prices have hit $5,989.8 per metric ton, mark

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