Olive oil and olives

Price increase

Why has olive oil suddenly gone up in price?

Olives and olive oil are becoming noticeably more expensive. Migros buyer Enrico Antonini explains why.

From
Yvette Hettiger
Date
Format
Interview

The price of olive oil is increasing. ­Why?

All of the olive-producing countries in Europe had qualitatively and quantitatively poor harvests in 2023. That increases the price of olive oil on the global market. Although we chose not to raise our prices last year, we must now adapt them on an ongoing basis. As a result, a 750ml bottle of Alexis Koroneiki currently costs CHF 11.95, compared to CHF 10.80 before.

Why were the harvests so bad?

Mainly due to persistent dry spells in the producing countries, such as Greece and Spain. This was already a problem back in 2022. And of course it also affects olives.

Will prices fall again in the future?

That depends on the upcoming ­olive season. We'll know more about this in June.

Can we expect to see empty shelves at stores?

Not at the moment. We aren't expecting any supply shortfalls between now and the middle of the year. Those deliveries are guaranteed.