The price of olive oil expected to rise

VAAL TRIANGLE - Olive oil prices are expected to rise, with one liter costing up to R300. The South African Olive Industry Association's CEO, Wendy Petersen, cites drought and extreme heat in Spain, Greece, and Italy as major contributing factors. She says global production has dropped, increasing demand as reports from the European Union indicate a 75% price hike over three years. Petersen notes South Africa's 1.6-million-litres of production could benefit the local market, but warns of reduced olive oil imports due to higher global prices.