Hike in UK olive oil prices blamed on poor harvest in Spain

MAJOR supermarkets in the UK have upped the price of olive oil in their stores for the second time this year.

Suppliers are blaming poor harvests following a lack of rain in Spain and the weakening of the pound for the increase in the price of ‘liquid gold’.

Sainsbury’s has increased the prices on 21 types of olive oil, from own label to popular brands.

Spain produces on average about 44% of the world’s supply of olive oil each year, twice as much as Italy and four times as much as Greece. 

About 70% of all Spanish olive oil comes from the province of Jaén which claims to produce more olive oil than the whole of Italy.