Shopping through grocery store aisles, you may have noticed an increase in grocery and food prices. While there can be several factors that contribute to escalating food prices, a prominent one is supply chain issues. This, among other things, can mean that the supply and demand for a particular food product is out of balance–there isn’t enough supply of a product to be able to meet the demand for it.
Recently, high-quality extra virgin olive oil is undergoing that level of scarcity. Here, we’ll share what’s happening with olive oil scarcity and why the freshest oil is still the best.
WHY IS THERE AN OLIVE OIL SCARCITY ISSUE?
At Fustini’s Oils & Vinegars, we partner with esteemed and trusted olive oil producers to ensure we are able to share only the best harvests. Perhaps the key contributing factor to access to this high-quality olive oil is from two consecutive years of extreme drought in Spain. In fact, in 2023, water levels were down 61% compared to the previous 10 years. That means that the 2022-2023 harvest was the lowest on record.
Combined with a lower harvest production is the increased demand for olive oil. This is exciting to see, and more and more people seek to discover the difference of high quality extra virgin olive oil. However, the laws of supply and demand also complicate this scarcity concern, too.
WHAT THIS SCARCITY MEANS FOR CONSUMERS
As a result of this scarcity of high quality extra virgin olive oil, consumers can expect to see an increase in olive oil prices. Yet the prices you see at tasting rooms like Fustini’s are much more familiar than the prices you’d find on grocery store shelves. That’s because grocery store prices are expected to skyrocket, or have already skyrocketed, compared to previous price levels due to this scarcity.
THE FRESH DIFFERENCE OF A TASTING ROOM
So with a scarcity of quality olive oil affecting everywhere you can shop, what difference do tasting rooms like Fustini’s offer? Turns out, the difference between tasting rooms and grocery stores may just be more important than ever.
Fustini’s tasting room works diligently with suppliers, even anticipating this upcoming scarcity concern. As a result, we secured top-quality olive oil and pay top dollar for this product where we know that freshness makes a difference. While grocery store prices may surprisingly skyrocket, tasting rooms like Fustini’s have a closer relationship with suppliers. This is vital, as this relationship eliminates many of the extra hands and costs involved in acquiring and setting prices for the olive oil you’ll find on grocery store shelves, which have production processes that are much more complex.
How else does Fustini’s make a fresh difference? Many reasons.
- Access to the freshest, award-winning extra virgin olive oil, which arrives to Fustini’s often much quicker than grocery stores.
- With this olive oil quality also comes the assurance that the olive oil you select at Fustini’s has the highest level of health benefits like higher polyphenols and other great benefits you’ll find in fresh olive oil.
- Connect one-on-one with an experienced and knowledgeable Fustini’s team member who is excited to share about the difference of extra virgin olive oil and answer your questions when you stop into our tasting rooms.
While grocery stores may be scrambling with delays and much higher prices, Fustini’s continues to dedicate themselves to equipping you with the highest quality extra virgin olive oil at a familiar price point. Despite the scarcity concerns of this past harvest, Fustini’s remains dedicated to providing you with the freshest ingredients for healthy and flavorful cooking.