Woolworths has explained why olive oil is currently so expensive in Australia, but the supermarket chain expects prices to fall.
For months, customers have been complaining that the price of their favorite olive oil in supermarkets has skyrocketed.
In a TikTok video, Woolworths employee Alexandra revealed that costs have risen because growing conditions both Down Under and overseas are not optimal, affecting olive growth and olive oil production.
“You may have noticed the price of olive oil recently — it’s a lot higher than normal. There are a few reasons for that,” she began.
‘Our growing conditions here in Australia are not optimal and apparently they are in Europe too. That has had a huge domino effect.’
But she claimed there was better news to come for Australians.
The supermarket expects olive oil prices to fall as the next harvests from suppliers in Australia and Europe are “much better” than before.
“That means you will notice the price of olive oil going down,” Alexandra continued.
Woolworths worker Alexandra revealed that prices have risen because growing conditions both Down Under and overseas have not been optimal, affecting olive growth and olive oil production.
This is because Australians, who are struggling due to the cost of living, are leaving their staple food items out of the pantry due to the high costs.
The price has risen 40 percent since 2021 due to inflation and a global shortage of olives.
Bec Nesnidal from Port Stephens, New South Wales, previously told FEMAIL she is now forced to use olive oil sparingly and mix it with butter when cooking.
As he walked through the shelves at Coles, the 48-year-old was stunned to see how extremely expensive olive oil was.
“What the hell is going on with olive oil prices? I used to pay $9 for a bottle — now look at this,” she said in a video showing how prices have ranged from $13 to $65.
Australians struggling due to cost of living crisis are giving up olive oil as price of staple continues to rise
The same Coles brand Extra Mild Olive Oil she used to buy now costs $17.
Bec refuses to buy alternative oils, such as vegetable oil or canola oil, because they cause inflammation in her body.
I will not buy [olive oil] “Unless I can find them for at least 40 percent off — and even then, it’s still expensive. I’ve gone back to using real butter when cooking and only adding a tiny drizzle of olive oil to keep it from burning,” she said.
“I used to make my own chilli and garlic oil with olive oil, but now I have to do without,” Bec continues.
‘I suspect that prices will rise even further as people panic-buy olives due to the shortage of olives abroad.’
“What the hell is going on with olive oil prices? I used to pay $9 for a bottle – now look at this,” she said in a video, showing how prices ranged from $13 to $65
Daily Mail Australia previously reported that the average price of olive oil rose by 100 percent from 2021 to 2024 due to drought and fires in Europe.
The reason for the high prices is still the shortage of olives to make the oil.
Australia is also experiencing a shortage of olive oil due to the poor fruit harvest of the previous season, which is causing prices to rise, as is the case in the Mediterranean region.
Home cooks on Reddit report using other types of oil, such as vegetable and coconut oil. But many claim it’s “not the same.”
A few shared top tips for obtaining and extending the life of your bottles of olive oil.
‘I buy 10L jerry cans in bulk from Kangaroo Island. It’s good quality and reasonably priced,’ said one man.
‘Aldi. But they rarely have bulk, so Costco,’ shared another.
Bec’s video has now been viewed over 242,000 times and others agree that they went to Aldi to buy oil.
