29 Jul 2024 --- The EU has recorded a sharp increase in potential cases of olive oil fraud and mislabeling in the first quarter of this year, attributed to rising prices for key commodities worldwide. Extra virgin olive oil prices have skyrocketed to an unprecedented level due to climate change and the burden of high interest rates. The most influential olive markets in the EU — Bari (Italy), Chania (Greece) and Jaén (Spain) — are grappling with historic price surges. At the same time, global production has plummeted from 3.4 metric tons last year to 2.3 metric tons this year.
