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Stock up on olive oil before prices really jump

Photo by Roberta Sorge/UnsplashBachelor on the Cheap

It's a kitchen staple in most American households, but olive oil will most likely be in short supply and much higher in price by the end of the year.

European producers of olive oil are facing a major shortfall in production as a result of the heatwave that hit the continent in 2022.  An estimated 80% of the world's olive oil comes from European countries such as Spain, Italy, and Greece.

Consumers have already seen price increases, but the climb is about to skyrocket.  According to a report from Food & Wine, prices could jump 30%-50%, depending on the type of olive oil.

With its many health benefits, it may be prudent to stock up on olive oil before those prices really start to impact the grocery budget.  Olive oil has an 18-24 month shelf life and should be used within six months after opening.  For extra virgin oils, it is recommended to use the oil within 30-60 days after opening.

Buyer's Tip:  Extra Virgin olive oil is healthier than regular olive oil, essentially raw oil vs. cooked oil.  The cooking process in refining olive oil removes some of the nutrients.  So, it's not an exact science, but in general terms, the more expensive the olive oil, the healthier it is.  A bottle of darker, greener, Extra Virgin olive oil - which is going to cost more - is going to have more nutritional value than a bottle of gold-colored, regular, olive oil.  Even within regular olive oils (refined), that holds true.  Regular olive oil with a 20% blend of Extra Virgin will be healthier than regular olive oil with a 10% Extra Virgin blend.  You'll typically pay more for the 20% blend.

$pend Wisely My Friends...

~ Mike

Related:  Food Review: Carlini Olive Oil

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Related: Food Review: Carlini Olive Oil


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I'm def stocking up! Thanks for the tip.

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