It’s over — the olive oil crisis that gripped my kitchen is fading away.
After two consecutive years of crop failures, Spanish olive farmers are now harvesting enough fruit to guarantee good supply in 2025. Wholesale prices have fallen about 55% from their record high set in February; retail prices will soon follow.
Yet, I don’t anticipate a return to the low prices of the last 20 years for two reasons — one is temporary, the other is structural. Few are paying enough attention to either.
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