Olive Oil Prices Set to Rise as Heat and Wildfires Devastate Mediterranean Harvest

Summer wildfires in olive groves across Greece, Italy and Portugal, combined with extreme heat, have led to a sharp drop in this year's olive harvest. As a result, olive oil prices are expected to climb this autumn, Mediterranean producers warn.

Groves that escaped the flames directly still suffered from ash and smoke-polluted air. The unusual heat has also fuelled the spread of pests and plant diseases and affected fruit size. "If the weather doesn't improve soon, we should expect price rises in the autumn, because there will be fewer fruits available for olive oil production," said Sara Vachonová, founder of Citizens of Soil, an olive oil producer based in Crete.

Prices Were Already Climbing

Global olive oil prices had only recently eased slightly after a sharp spike two years ago, driven by a combination of rising demand, hot dry weather and pest infestations. In recent months, however, prices have started climbing again.

In Czechia, a litre of olive oil typically costs between 200 and 500 crowns in supermarkets, while premium extra virgin oil goes for roughly double that.

Vineyards and Vegetables Are Suffering Too

The heat isn't only hurting olives. In France, high temperatures have slowed grape ripening in the Champagne, Bordeaux and Burgundy regions, which is expected to result in a smaller harvest and one of the earliest grape-picking seasons on record.

The French vegetable growers' association, Légumes de France, has warned of losses amounting to thousands of tonnes of produce worth tens of millions of euros — affecting lettuce, carrots, leeks, garlic and onions. According to the association's estimates, a lack of rainfall could cut the yield of some crops in half.

Around Prague, based on reporting by novinky.cz