Extra virgin olive oil prices tipped to top £16 a litre next month

Price rise for mass-market types expected as global production falls to lowest level in more than 10 years

Olive oil prices are set to climb further this year – heading to more than £16 a litre for a bottle of extra virgin – amid a drop in global production to the lowest level in more than a decade.

Lower production in Greece, Morocco and Turkey as part of the natural cycle of olive growth is expected to offset an improving situation in Spain and Italy, where trees have suffered from extreme heat and drought in recent years as the climate crisis wreaks havoc on harvests.