Australia's ongoing struggle with rising grocery costs continues as the price of olive oil escalates due to weather-related challenges. Shoppers are expressing surprise over the increase in the price of Woolworths' one-liter own-brand olive oil bottle, now priced at $10, reflecting a $1.20 rise within a year. Coles' own-brand olive oil is even pricier at $12, while Aldi offers a more affordable option at $7.99 for one liter.
This upward trend in prices is consistent with other essential items like milk and eggs, which have also experienced cost hikes due to supply shortages. The primary reason for the olive oil price surge is the impact of adverse weather events such as heatwaves, fires, and droughts on olive-producing regions in Europe, coupled with an unfavorable growing season in Australia.
Both Woolworths and Coles source their olives from Spain and the Mediterranean, regions hit hard by climate-related challenges affecting supply and production costs. Shoppers are advised to explore discounts on premium brands, compare cost per volume, and consider alternative stores for better deals amidst these rising costs.
Source: au.yahoo.com