Global harvests are failing… Olive oil prices to spike, and South Africa may benefit

John Perlman speaks to Wendy Petersen, CEO of the SA Olive Association.

Listen to the discussion below.

Olive oil prices are expected to rise over the coming months as the global market faces major challenges due to extreme climate changes. 

Supply continues to fall short of demand. 

“Currently there is a shortage in supply of extra virgin olive oil in the industry [while there are] increased trends of people are wanting to cook with olive oil.”

- Wendy Petersen, CEO - SA Olive Association

Spain, the biggest oil producer in the world, has had three consecutive bad harvests. The commodity has become one of the most stolen items in supermarkets in Spain.

Petersen says this presents an opportunity for South Africa to increase its exports.

"We have a long history in olive oil making… The growth for olive oil in South Africa is on the rise… Our producers have really mastered their skill and their talent." 

- Wendy Petersen, CEO - SA Olive Association

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