'Liquid gold' in Mallorca continuing to shoot up in price

Mainland drought conditions affecting the price

Olive oil on a Mallorca supermarket shelf

Only sugar has risen more in price. | Teresa Ayuga

Andrew EdePalma14/09/2023 09:38
TW
0

Latest figures from the National Statistics Institute (INE) indicate that the price of olive oil in the Balearics has risen to around ten euros a litre. The expectation is that the price will continue to rise. Although there is obviously production in Mallorca of what's dubbed 'liquid gold', most of it comes from the mainland. Drought conditions will lead to another bad harvest. Given the increase in price, some supermarkets have started putting anti-theft collars on bottles.

According to the INE, the price of oils in the Balearics has risen by an average of 20.7% over the past year, but in the specific case of olive oil the increase has been higher.

Related news
Mercat de l'Olivar in Palma, Mallorca

Drought in Spain pushing up Mallorca food prices

More related news

Well ahead of oils is sugar - a year-on-year increase of 38.1% in August. The third highest increase last month was potatoes and potato products; these were up 15.5%. In general terms, food and non-alcoholic beverages in the Balearics have gone up 10.7%, slightly above a national average of 10.5%. Of all food items analysed by the INE, none have become cheaper.

The president of the Consubal consumers association, Alfonso Rodríguez, accepts that an increase in transport costs, especially fuel, has pushed prices up. But he notes that there is huge dependence on products imported into the Balearics, and he also complains that there are companies which are taking advantage of the situation- "not only to pass on the increase in costs but to also increase their profit margins".

Also in News

The new route of the line to Llucmajor, in red, and the previous one in yellow

New train service will have 10 kilometre underground section, linked with Palma airport

Son Amar closes.

Curtain comes down on Son Amar, the popular Mallorca nightspot

Scene of a railway fatality in Mallorca

42-year-old man killed by a train in Mallorca

The first mass protest in Palma last year.

First Mallorca protest of the season this Saturday

Most viewed
Most Commented