Add olive oil to foods facing a troubled year with higher prices

Eggs became a previous commodity earlier this year as did turkey thanks to bird flu sweeping through American flocks. Now a drought in Spain promised higher olive oil prices.

“The recent October to February olive harvest produced a yield 50% less than the usual output, tightening global supply and pushing prices upward,” reports CNBC.

“The exceedingly poor weather conditions meant that … Spain produced an olive oil crop of around 630,000 metric tonnes, down from the usual 1.4 to 1.5 million metric tonnes harvest,” Mintec’s oilseeds and vegetable oils analyst Kyle Holland told CNBC recently.

“It appears the ongoing drought in Europe, most importantly in the largest olive oil-producing region of Spain, has caused a global supply shortage of olive oil,” David Valmorbida, president of the Australian Olive Oil Association, told CNBC.

Olive oil is touted by nutritionists as having “healthy” fat that we can eat. Olive oil and vinegar are my regular salad dressing, being much healthier than any high-fat, high-salt prepared dressings.

So if you see olive oil on sale, grab it. And buy in bulk to get better per-ounce pricing