Sales of olive oil have plunged in its Mediterranean heartland as Spaniards and Italians shunned their most beloved culinary ingredient following steep price rises.
Ignacio Silva, chief executive of Deoleo, the world’s biggest olive oil seller by revenue, said cost-conscious consumers were changing their habits to cope with the impact of droughts that have wrecked harvests.
“We’ve clearly touched a price that is a problem for Spanish and Italian consumers,” he told the Financial Times,…
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