Extreme weather conditions in Europe have led to soaring prices of olive oil, however there is one bright spot – Morocco Gold extra virgin olive oil.
Summary:
- Climate change and drought has had a significant impact on the major EU olive oil producing countries. This has affected olive oil production leading to shortages and huge price increases for consumers.
- Whilst Morocco has not been immune from the effects of climate change, Morocco Gold has managed to mitigate these impacts by better management of other costs of production, to enable us to hold our prices to our customers steady whilst others are increasing theirs.
Contents:
- The Impact Of Climate Change On Extra Virgin Olive Oil Production
- Why Does The Extra Virgin Olive Oil Market Matter?
- The Growing Popularity Of Moroccan Extra Virgin Olive Oil
- How Has Morocco Gold Managed To Maintain Its Pricing
The Impact Of Climate Change On Extra Virgin Olive Oil Production
The impacts of climate change are widespread and becoming increasingly well known. For the past decade, the oldest cultivated trees on Earth have been showing their vulnerability with many of the Mediterranean’s olive producing countries impacted by increasing levels of drought. In 2023, the region, along with the rest of the planet experienced the hottest summer on record. The largest olive-oil producing countries, Spain, Italy and Greece have felt the greatest impact.
“I never saw in all my life a dryness like this one,” said Rossella Boeri, olive oil producer in Badalucco, Italy, referring to the drought of this past summer. “Luckily the olive trees are strong, but we are facing a really big lack of production which is reflected in our olive oil prices, which coincidentally has led to a lower consumption and demand for our olive oil.”
In Almeria, Spain, Rafael Alonso Barrau, olive farmer and oil producer in Almeria, Spain said “this year (2023) we had less than 45% yield and this matters a lot. The concern is that our summers are becoming longer and hotter and we believe this affects the viability of the production.”
This has a knock-on impact on olive oil prices. According to Mintec, the raw material market forecaster and data analysis firm, prices of Spanish olive oil had risen by 115% between September 2022 and September 2023.
This in turn means two things for consumers; shortages and higher prices that are being felt around the world. They are hitting Europe the hardest, especially since, for many Europeans, olive oil is more than just an ingredient; it’s an irreplaceable part of their culture.
Why Does The Extra Virgin Olive Oil Market Matter?
Unhealthy habits and poor nutrition have become major issues worldwide. However, incorporating extra virgin olive oil into your daily diet can help promote healthier living and reduce the risk of many diseases. According to studies, extra virgin olive oil is the best type of olive oil for its high polyphenol content, which plays an important role in reducing inflammation and protecting against chronic diseases. These benefits have made olive oil a popular ingredient in Mediterranean cuisine, where it is often used as the primary source of fat. By including quality olive oil in your diet, you can enjoy the nutritional benefits of this superfood and make significant strides towards achieving a healthier lifestyle.
The Growing Popularity Of Moroccan Extra Virgin Olive Oil
Moroccan extra virgin olive oil is gaining popularity amongst health-conscious consumers and Morocco Gold extra virgin olive oil with it’s high level of polyphenols is leading the way. This extra virgin olive oil is produced from the finest olives, grown in the foothills of the Atlas Mountains where the unique geology and micro-climate provide the perfect conditions for olive growing. With its rich flavor and numerous health benefits, it has quickly become the extra virgin olive oil of choice. Around 66% of our orders are now for repeat customers.
How Has Morocco Gold Managed To Maintain Its Pricing
Whilst not immune from the effects of climate change and price increases of the olive oil itself, there are a number of other key components that add to the cost of production, such as our bespoke bottle and our internet packaging. Gordon Davidson, CEO at Morocco Gold says “as the volume of Morocco Gold purchase have grown significantly over the past few years, we have been able to negotiate significantly more favourable terms with our key suppliers. This has enabled Morocco Gold not only to hold its base price to our customers, but to continue to offer our ever-popular offers, particularly our ‘buy 5 and get your 6th bottle of Morocco Gold extra virgin olive oil free”.
We remain committed to brining this exceptional, high quality extra virgin olive oil from this unique source in Morocco, to health-conscious food lovers – worldwide, at a price that our customers can afford.
