07 May 2024 --- Extra virgin olive oil prices have skyrocketed to an unprecedented level, a direct consequence of the harsh realities of 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, while global production has plummeted from 3.4 metric tons last year to 2.3 metric tons this year.