In addition to new wars, inflation that has disrupted everything and the palpable effects of the climate crisis, in 2023 we have seen how olive oil prices have increased between 55 and 70%, in some cases reaching the shelves of supermarkets by 150%, according to Facua-Consumidores en Acción. Prices and not price, since as there is not a single product there is also no single price, although we are referring exclusively to extra virgin olive oil (EVOO). The truth is that just a couple of seasons ago, the EVOO from our oil mills was sold, either in a cooperative or through individuals, at 25, 28 or 30 euros per 5 liters. Something more ecological and green. But throughout this year, there have been such wild increases that they have led to converting what has always been a basic ingredient in our diet into a gourmet item, almost a whim, becoming the food product that is most popular. has become more expensive in 2023.
We have been able to see this in recent weeks, when our seasonal EVOOs have begun to come out of the oil mills, packaged and labeled. A telephone survey in different parts of our territory, such as the regions of Maestrazgo and El Palancia in Castellón, Utiel-Requena in Valencia, or the Mountains of Alicante, shows results that range, in 5-liter containers, from 40 or 42 euros. at 56, 54 or 52 and even, in some cases, up to 60 euros or more. Don't look for the 40 year old because, as happened to the Viver Cooperative, they took it out of your hands as soon as it was put up for sale at the New Oil Festival, unless you know a member and they offer you some the bottles to which they are entitled.
As a consequence of all this, olive oil consumption has fallen by more than 45% compared to 2022. On the contrary, the demand for pomace oil, intense olive oil and mild olive oil has grown. Things have gotten so bad that the government has been forced to reduce the VAT on oil from 5% to 0%, placing it at the same level as essential products. Which was obvious.
What does not explain the price increase alone are the increases in production costs throughout 2023 since these have been reaching a certain stability in recent months, as has been happening with fuels. And less with the indicated percentages. Therefore, it must be concluded that the prices at which our EVOOs have been put on sale are not exempt from a certain “short-term speculation”, as someone who knows the sector well points out. Thus, while some have jumped on the vine, others have tried to set prices “looking to the future”, so as not to be forced to retract in future campaigns, causing consumer confusion. Above all, in those cases in which these end up being decided by contagion, without a reasoned calculation of the expectations, costs and the plus of the value chain (be it the landscape, or the social responsibility of the business project) of the product.
All this would apply to EVOOs produced by professional organizations. Another thing is family production, more or less mechanized, where the production cost probably exceeds the final price, if the hours of work and the investment in machinery, among other aspects, were taken into account. But this is an other history.
