Heatwaves and drought have been crippling olive oil production in recent years. Spain — the world’s largest olive oil provider — expects production to drop by 50% this year. On top ofcreating a perfect breeding ground for counterfeit products, shortages sent prices through the roof. Spanish farmers say supermarkets are taking advantage of the situation to increase profits at the expense of consumers. “The initial price of our products has increased only by 3%,” said Carles Peris Ramos, General Secretary of the farmer association La Unió. “And stil, consumers are paying 59% more when buying at …
