India: Olive oil prices may fall 20%

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Olive oil brands, such as Leonardo, Borges and Figaro, are expected to get cheaper by up to 20 per cent, as crop production turns normal. During the course of the year, olive oil prices had increased by 60 per cent.

“Price increases came about due to a severe crop shortfall last year, coupled with steep rupee depreciation. While this year’s crop is normal and producer prices in Spain and Italy have started a downward trend, it will take about six months for this to translate into a 20 per cent decline in retail prices in India,” V.N. Dalmia, President, Indian Olive Association, said.

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