In one year the average prices of the 250 ml bottle of product increased by 51.4%, while those of the 500 ml bottle increased by 43%
OR olive oil has become more expensive in supermarkets and hypermarkets across the country. In 12 months the average prices of a 250 ml bottle of extra virgin olive oil have increased 51.4%while those in the 500 ml bottle have increased 43%.
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Between February 2023 and February 2024, smaller olive oil packaging was removed from production. R$20.03 For R$30.33. The largest, of R$31.58 For R$45.17. The information comes from a survey by the consultancy firm Horus Mercado Intelligence.
The survey, carried out on the basis of the analysis of 500 million invoices per month recorded throughout the country, also shows that the price of the virgin product, 250 ml, has increased 25%while the 500 ml package recorded an increase 48.3% during the same period.
The 500 ml pack, sold on average for R$26.93 in February 2023 it reached R$ 39.93 in February 2024. A preliminary investigation by the consultancy firm shows that in the first 21 days of March the average prices for a 500 ml pack of virgin olive oil were even higher, 43.37 BRL.
Why is olive oil so expensive?
The rise in olive oil prices is global, with Europe and South America being some of the hardest hit markets. Among the main causes of the increase are: the effects of global warming which have directly affected the production of olive oil, as olive trees do not react well to drought and high temperatures; and phenomena such as El Ninõ.
In the case of El Ninõ, the phenomenon reduced global olive oil production by 20%. According to the International Olive Council (IOC), instead of 3.3 million tonnes, 2.7 million were produced. As a result, exports were impacted and Brazil reduced its purchases from 100,000 tons of olive oil in 2022 to 80,000 tons in 2023.
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Source: Terra
Ashley is a professional author and journalist, working at 247 News Update. She writes on various topics from economy  news to general interest pieces, providing readers with relevant and informative content. She brings a unique perspective and in-depth analysis to her work.
