It’s already constantly out of stock and when it’s available it’s at least +50% of the regular price. (Germany)
I don’t know the prices now, but half a year ago in Poland olive oil was cheaper than any other oil and significantly cheaper than butter. Like 6€ a liter.
At least sunflower and rapeseed oil are back at a somewhat reasonable level, about 2-2,50€/l. Still way more expensive than pre-pandemic but the prices right after the invasion were just ridiculous, as you said, right up there with olive oil.
The climate where you can grow these types of things is shifting and industry needs to shift with it. There will be new places that are conducive to growing that crop (that probably used to not be) and we will need to grow them there.
Olive trees take decades to grow to harvest size, I hope we’ve started already…
People have started planting Olives in austria and even germany allready. Eventhoug I think it is more experimental still.
