Olive oil again

[JohnD]

You heard it here first.

" George Steer in London
APRIL 23 2023

A lack of rain in Spain has pushed prices for olive oil to record levels, with analysts warning that a particularly dry summer could lead to even lower crop yields later this year.

Olive oil prices have surged almost 60 per cent since June to roughly €5.4 per kilogramme, on the back of a severe drought in Europe that last year ruined olive crops across the continent.Spain, the largest olive oil producer, was hit particularly hard.

The country’s farmers typically produce half of the world’s olive oil, though annual supplies have roughly halved to about 780,000 tonnes in the past 12 months."

FT.com

 

[just pumps]

and your point is what or do you want to talk about the weather.

 

[securespark]

What if we buy Greek or Italian olive oil?
Italy's had plenty of sky water.

 

[Ihavenojob]

I've started using butter for frying now, plenty of that about.

 

[Mottie]

You heard it here first.

View attachment 305321

" George Steer in London
APRIL 23 2023

A lack of rain in Spain has pushed prices for olive oil to record levels, with analysts warning that a particularly dry summer could lead to even lower crop yields later this year.

Olive oil prices have surged almost 60 per cent since June to roughly €5.4 per kilogramme, on the back of a severe drought in Europe that last year ruined olive crops across the continent.Spain, the largest olive oil producer, was hit particularly hard.

The country’s farmers typically produce half of the world’s olive oil, though annual supplies have roughly halved to about 780,000 tonnes in the past 12 months."

FT.com

"Heard it here first?" Something from April 2023? Do you get your news by carrier pigeon? Seems like the basic rules of supply and demand. So what - that’s why gold and diamonds are expensive for what they are compared to say, supermarket lemonade. Olive oil is not a necessity so I don’t see it as a problem.

 

[jeds]

British cold pressed rapeseed oil is better and doesn't have to be transported a thousand miles.

 

[gas112]

"Heard it here first?" Something from April 2023? Do you get your news by carrier pigeon? Seems like the basic rules of supply and demand. So what - that’s why gold and diamonds are expensive for what they are compared to say, supermarket lemonade. Olive oil is not a necessity so I don’t see it as a problem.

Looks like johnd should keep up
Lack of rain
Guess he missed the widespread flooding with record rainfall in the past couple of weeks throughout spain

 

[Mottie]

British cold pressed rapeseed oil is better and doesn't have to be transported a thousand miles.

We just use Sainsbury’s own vegetable oil which is 100% rapeseed oil. It’s not cold pressed though - Is there much of a difference? Taste?

 

[Andydevon]

British cold pressed rapeseed oil is better and doesn't have to be transported a thousand miles.

Yes a just as good as olive oil. Lidl's own is more than good enough to beat olive oil. Well I say olive oil as it one of the most disingenuous markets out there.

 

[JohnD]

and your point is what or do you want to talk about the weather.

If you aren't interested in General Discussion, you're in the wrong place.

 

[JohnD]

Seems like the basic rules of supply and demand. So what - that’s why gold and diamonds are expensive for what they are

I see you don't know why Diamonds are expensive.

 

[gas112]

I see you don't know why Diamonds are expensive.

its exactly that there is a large demand for them and a company keeps them locked away limiting the supply thus artificially keeping the price up

 

[Brigadier]

I see you don't know why Diamonds are expensive.

a company keeps them locked away

Otherwise, you'd go around scooping them up by the bucketful, eh @gas112

 

[Mottie]

I see you don't know why Diamonds are expensive.

Why do you see that?

As Gas112 said. Regardless of whether they are rare or deliberately held back, there is a demand for them and the supply is restricted. No different from say, Rolex Sub watches. Nothing special about them, a mid range tool watch, not a 'luxury' watch and they could make ten times the amount they currently make but because they restrict the supply, idiots with more money than sense that don’t want to go on a two year waiting list will pay thousands over the retail price to own one. Supply and demand, as I said.

 

[Bod ...]

We just use Sainsbury’s own vegetable oil which is 100% rapeseed oil. It’s not cold pressed though - Is there much of a difference? Taste?

Yes but you'd be hard pressed to notice the difference.