Why have olive oil prices risen in Switzerland?

Olive oil is an essential ingredient in Mediterranean cuisine and is also very popular in Switzerland. However, in recent months, olive oil prices have risen significantly – a trend that has surprised many consumers. As a provider of high-quality olive oil, we would like to transparently explain the reasons for this development.

1. Climate change and poor harvests

The main reason for the price increase lies in the climatic conditions of recent years. Southern Europe, the heart of olive oil production, has been hit by extreme weather events:

• Droughts : Spain, Italy, and Greece, the largest olive oil producers, suffered from persistent drought. Spain, in particular, experienced one of the worst harvests in its history in 2023.
• Heatwaves : Temperatures of over 40 degrees Celsius during the flowering period meant that many olive trees were unable to bear fruit.
• Irregular rainfall : After long dry periods, heavy rains occurred, which placed additional stress on the trees.

These extreme conditions have massively reduced production. Spain, which normally supplies around half of the world's olive oil, was only able to produce about 50% of its usual volume in 2023.

2. Rising production and logistics costs

In addition to the climatic challenges, economic factors also play an important role:

• Energy costs : Olive oil processing—from pressing to bottling—is energy-intensive. Rising energy prices have had a direct impact on production costs.
• Transport costs : Since olive oil is imported into Switzerland, higher fuel prices and logistics costs impact the final price.
• Labor costs : In many producing countries, wages have increased, which is positive for workers but also increases production costs.

3. Global demand and supply shortages

Global demand for olive oil has increased in recent years—not least due to its reputation as a healthy food. At the same time, reduced supply due to poor harvests has led to a shortage. This discrepancy between supply and demand is driving prices even higher.

4. Quality remains our goal

Despite the challenges, we at Gusto D'Oro continue to focus on the highest quality. Our olive oil comes from carefully selected growing areas and is produced using traditional methods. We work closely with our partners to offer you a product that meets the highest standards, even in difficult times.

What does this mean for you as a customer ?

We understand that rising prices can be a burden. However, we would like to emphasize that this development does not only affect us as traders, but is a global phenomenon. The higher price reflects the difficult conditions under which olive oil is currently produced.

Our promise

At Gusto D'Oro, quality and transparency are our top priority. We are committed to continuing to offer you first-class olive oil—even if this is challenging in times of price fluctuations. With your purchase, you are not only supporting our company, but also the local producers who are doing an outstanding job under these difficult conditions.

We thank you for your trust and support! If you have any questions or suggestions, we look forward to your message or comment.