Italians Reduce Olive Oil Consumption Amid Price Surge

A recent survey has revealed that one-third of Italians have cut back on their consumption of extra virgin olive oil due to surging prices, reports Colleen Barry for the Associated Press (AP).

The situation in Italy is less severe compared to other olive oil-producing Mediterranean countries.

The Mediterranean staple has seen prices skyrocket, prompting consumers to reassess their purchasing habits.

While the survey indicates a significant reduction in olive oil consumption, Italian producers argue that the data doesn't provide a comprehensive view of the situation. They claim that sales of higher-quality Italian extra virgin olive oil have actually increased.

According to the survey conducted by the Piepoli independent research institute, supermarket prices for olive oil have risen from 4 euros to 9 euros per bottle, leading nearly half of respondents to substitute olive oil with cheaper seed oil.

The situation in Italy is less severe compared to other olive oil-producing Mediterranean countries.

Spain, the world's largest olive oil producer, has experienced drastic production cuts due to two years of drought, resulting in a significant rise in global prices. Greece and Spain have both witnessed a one-third decline in olive oil sales over the past year, according to industry estimates.

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