“Olive oil prices surge over 100% to record highs, sparking cooking oil thefts”
September 19, 2023
“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…”