2014 has been a terrible year for olive oil production. The cause:- a mild winter and a humid summer which has led to ideal conditions for the olive tree fly to flourish, the lavae of which destroys the olives. Production of oil has begun early this year to avoid the crop falling to the ground. Due to the scarcity of good olives, prices per kilo are nearing €2, which for the consumer means oils priced at around €17.50 a litre.
Spanish olive oil production in 2014 is likely to be halved due to a heat wave. Italian olive oil production has also been reduced by a bacterial disease. Prices are therefore likely to rise Europe-wide.