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Economy

“Olive oil prices surge over 100% to record highs, sparking cooking oil thefts”

“Olive oil prices spiked to fresh records as severe droughts in major producing countries crimp supplies — and drive up thefts in cooking oil.

Global prices for olive oil surged to $8,900 per ton in September, driven by “extremely dry weather” in the Mediterranean, according to a recent report by the United States Department of Agriculture. Already, the average price in August was 130% higher compared to the year before, and showed “no sign of easing,” USDA said…”

https://www.cnbc.com/2023/09/19/olive-oil-prices-surge-over-100percent-leading-to-cooking-oil-thefts.html

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