The article may spell good news for the olive oil market in particular, and arrives on the heels of reports that Italian olive oil prices are set to increase following a difficult growing season.
According to olive oil trade associations, the effects of blight, bacterial diseases and extreme weather conditions have resulted in the 2014 harvest is down by around 35% from 2014. Olive oil prices may rise as much as €2 per litre.
In October 2014, the International Olive Council reports that in the last crop year, Italy produced approximately 44% of global olive oil imports, 8% lower than its 2013 total.
It is unsurprising, then, that problems plaguing the Italian harvest will have notable consequences for the global consumption of olive oil. Any added demand for olive oil resulting from increasing awareness of its health benefits are likely to compound the upcoming price rise. It will, however, be good for growth in the market.
Article sourceDoctors emphasise health benefits of Mediterranean diet,