Price of olive oil

Hi students,

As you surely know there’s something is worrying everybody when going to the supermarket. This worrisome issue is the price of olive oil. It is said that prices will be lower soon. However, I don’t think so. Here you can read an opinion essay about it. I hope you like it.

EXCESSIVE OLIVE OIL INCREASE

It is certainly seen that the price of olive oil in Spain has risen excessively over the last two years. Consequently, a serious issue it has become since then, and has been concerning the majority of consumers as it is an essential product in Spanish homes. Recent trends have clearly depicted the exacerbating increase in prices. It is blamed on the drought and the adverse weather conditions Spain is going through. Frankly, I would say it is an excuse to speculate in commodity markets.

To begin with, not only have these rocketing prices strained household budgets, but also deter people from purchasing this ingrained product, particularly for low-income families. These consumers are seeking alternatives such as sunflower oil or even seed oil, which are much more economical. Many people can be seen taking them from the shelves in the supermarkets.

Another drawback is that producers have indeed noticed there has been a huge demand for olive oil. Therefore, they perform speculative activities in markets impacting on retail prices and consumers as a consequence. On top of everything else, extra virgin olive oil seems to be worse in quality and taste ever since.

It may seem that prices have decreased a tiny percentage but this is not sufficient to stabilize families’ economy nevertheless.

To sum up, although olive oil is a product of a paramount importance in homes, the inflated prices make many consumers not to buy it. As for my knowledge, it is preferable to find another one as it is the only solution to save the household economy at the moment, and prices are not going to lower in the short term.

Juanjo

 

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