Spain is to temporarily abolish the sales tax on olive oil to help consumers cope with soaring prices, the Spanish government has said. Spain is the world’s leading producer and exporter of olive oil, but its cost for domestic consumers has risen dramatically because of continuing inflation and a prolonged drought that has decimated supplies. Prices have also risen sharply elsewhere in the Mediterranean. The price of olive oil has shot up by 272% since September 2020, according to Spain’s agriculture ministry. A five-litre bottle of olive oil from a Spanish supermarket can cost more than €50. …