Prices in supermarkets could increase by 20-25% later this year.
The price of olive oil is set to rise as heatwaves hit production in Spain, a leading exporter has warned.
It sells around 20,000 tonnes a year in the UK and packs own-label brands for Sainsbury's, Tesco, Waitrose, Morrisons and Asda. The supermarkets also stock its La Espanola brand, which is the third biggest in the UK. This is having an impact on global prices. In July the Mintec benchmark price for extra virgin olive oil rose to its highest level so far this year, up by 7.3% on the previous month and 14.2% on the previous year, according to the market research group.
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