WE HAVE ANOTHER potential middle-class crisis on our hands. After news last week that there is a global Prosecco drought on the way, now it looks like stocks of olive oil are worryingly low too.
There have been poor harvests in Spain and Italy and industry experts warned that there is a massive shortfall in supplies reaching the market, the Telegraph reports.
The International Olive Oil Council said there will be a shortfall of 783,000 tonnes in 2015. Some in the industry have now been speculating that we may see rationing of olive oil in the future.
Particularly dry and warm weather in the regions where the olives are grown is being blamed for the poor harvest as it affected the trees during their blooming period.
A disease spreading across Italy has also been affecting the trees. Last week, EU member states gathered in Brussels to discuss steps to stop the outbreak of the bacteria.
France and Spain want a hard line, fearing for their own olive groves as well as vines and citrus trees, which can also be infected by the insect-transmitted bacteria but no agreement on a plan of action was reached. Italy is less willing to take drastic measures as growers mount increasing resistance to the destruction of age-old olive groves.
- With reporting from AFP.
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