Fontana CEO Loizos Papadopoulos takes as an example Greek and Spanish olive oil, which is now already sold for more than twice as much as normal, 7 euros against usually 3 euros per liter.
— The price is a record high. Harvests have been halved in Spain, which is the largest producer in the world. At the same time, consumption is increasing globally. Italy buys up half of Greece’s olive oil production. For consumers, olive oil will become more expensive in the fall, Papadopoulos told the newspaper.
The company Di Luca, which is behind the Zeta brand, notes that the price of olive oil hits hard against the company’s purchasing calculations, and that the scarce olive harvests in Spain have a major impact on the total supply.
— Then we have higher energy and transport costs, rising packaging prices and currency on top of that. Many factors influence purchases, unfortunately all of them go in the wrong direction. On the other hand, we are not worried about the supply, because Sweden is such a small country in the context, says Di Lucas purchasing manager Helene Rehnberg to Di.
At the same time, the National Federation of Farmers warns that the drought in Sweden, combined with interest rate hikes and cost increases, could lead to even higher food prices.