Sunflower oil has displaced olive oil from the kitchen throne in Spain, the world's largest producer of olive oil, as rising prices have forced consumers to switch to cheaper options.
Until this year, olive oil was the most popular cooking oil in Spanish households, accounting for 62% of sales by volume in 2023, while sunflower oil represented almost 34%, according to data from the Ministry of Agriculture.
"It is clear that olive oil consumption is declining in Spain," said Primitivo Fernandez, spokesman for Spain's largest olive oil bottling association. "There are households that previously bought only olive oil, and now for the first time they are buying both sunflower and olive oil," he added.
A bottle of sunflower oil cost an average of 1,86 euros per liter last year, while more expensive types of olive oil cost more than 6 euros per liter, which is 50% more than in 2022, official data showed.
Spain normally accounts for 40% of world olive oil production, but spring heat waves and prolonged drought have reduced the olive harvest in the past two years, pushing olive oil prices to record levels.
As a result, this basic ingredient of the Mediterranean diet has become unavailable to poorer households in Spain, who are switching to cheaper sunflower oil, according to the report of the Ministry of Agriculture on trends in food consumption in 2023.
At the end of last year, olive oil was mainly consumed in upper- and middle-class households, according to the report.
A one-litre bottle of extra virgin olive oil sold for as much as €14,5 in some supermarkets last year, putting it in the category of products that retailers provide with safety labels.
In June, the Spanish government reduced the value-added tax on olive oil to make it more affordable, although prices have fallen slightly this year.
Spain's largest supermarket chain, Mercadona, has reduced the price of olive oil by 25% this year, and this Sunday is offering one-liter bottles below 7 euros to attract customers again, a company source said.
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