Olive oil, the golden lifeblood of Mediterranean cuisine, is experiencing a staggering rise in price, especially in the southern European countries where it is produced. The price of olive oil in Portugal soared by 69.1% in January 2024 compared to last year, well above the average of 50% in the EU, according to Eurostat. As a comparison, general food inflation was 4.8% in January across the bloc. In Spain, the world’s biggest olive oil producer, prices jumped 62.9% in January compared to the previous year. Spain hit hard by rising price of olive oil as climate change takes its toll on product…