Woolworths has shared the reason why olive oil is so expensive in Australia right now, but the supermarket giant is hoping prices will come down.
For months, customers have been complaining that the price of their favorite olive oil has skyrocketed in supermarkets.
In a TikTok video, Woolworths employee Alexandra revealed that the cost has increased because growing conditions both in Australia and overseas have not been optimal, affecting olive growth and olive oil production.
“You may have noticed that the price of olive oil has gone up a lot more than usual lately. There are a couple of reasons for that,” he began.
“Our growing conditions here in Australia have been less than optimal and apparently the same thing has happened in Europe, so it’s had a huge domino effect.”
But he said there was better news on the way for Australians.
The supermarket expects olive oil prices to fall because the next harvest from Australian and European suppliers is “much better” than the last.
“What that means is that we should start to see the price of olive oil starting to go down,” Alexandra continued.
Woolworths employee Alexandra revealed that prices have increased due to less than optimal growing conditions both in Australia and overseas, affecting olive growth and olive oil production.
This comes at a time when Australians, feeling the pinch due to the cost of living crisis, are forgoing pantry staples due to their high cost.
The price has increased by 40 percent since 2021 due to inflation and a global shortage of olives.
Bec Nesnidal, from Port Stephens, New South Wales, previously told FEMAIL she is now forced to use olive oil sparingly by mixing it with butter when cooking.
As he wandered through the aisles of Coles, the 48-year-old was shocked to see the extreme cost of olive oil.
“What the hell is going on with olive oil prices? I used to pay $9 for a bottle, now look,” he said in a video, showing how prices ranged from $13 to $65.
Australians, feeling the effects of the cost of living crisis, are abandoning olive oil as the price of the staple continues to skyrocket
The same Coles brand extra mild olive oil I used to buy now costs $17.
Bec refuses to buy alternative oils, such as vegetable or canola oil, because they cause inflammation in her body.
“I don’t buy (olive oil) unless I can find it at least 40 percent off, and even then it’s still expensive. I’ve gone back to using real butter for cooking and just add a splash of olive oil to keep it from burning,” she said.
“I used to make my own chilli and garlic oils using olive oil, but now I’ll have to go without,” Bec continued.
“I suspect prices will rise even further as people start panic buying due to the shortage of olives abroad.”
“What the hell is going on with olive oil prices? I used to pay $9 for a bottle, now look,” he said in a video, showing how prices ranged from $13 to $65.
Daily Mail Australia previously revealed that the average price of olive oil has risen by 100 per cent between 2021 and 2024 due to drought and fires in Europe.
The reason for the high prices is still the shortage of olives to make the oil.
Australian olive oil is also in short supply due to last season’s poor fruit harvest, which is driving up prices along with shortages in the Mediterranean.
Home cooks on Reddit have reported turning to other types of oils, such as vegetable and coconut, but many claim that “it’s just not the same.”
Some tips shared to purchase and prolong the life of your olive oil bottles.
“I buy 10-litre jerry cans in bulk from Kangaroo Island. They are good quality and reasonably priced,” said one man.
“Aldi, but they rarely have bulk products like Costco,” another commented.
Bec’s video has since been viewed more than 242,000 times, with others agreeing they turned to Aldi to buy the oil.
