• Business Business

Restaurant owner scrambles as global shortage causes 140% price increase menu staple: 'It's the backbone of our cuisine'

"It can be a scramble, especially for the smaller boutique importers who are sourcing from a single-origin farm."

"It can be a scramble, especially for the smaller boutique importers who are sourcing from a single-origin farm."

Photo Credit: iStock

Extreme weather fluctuations caused by worldwide global heating have impacted the food production sector, and restaurants and diners are feeling the pinch.

What's happening?

According to CBC, the average retail price of olive oil has increased by 140% in the last three years. From Europe to the Americas, droughts, flooding, and wildfires have damaged yields in olive-producing regions and led to shortages and price rises.

For one Greek restaurant in Vancouver, British Columbia, olive oil is a vital part of the menu. Anyone serious about their food will tell you there is simply no replacement for the liquid gold, so restaurant owners are having to make a choice between bumping up prices for customers or opting for a lower-quality oil.

"It's the backbone of our cuisine," the director of culinary operations for Executive Table Group, Mark Greenfield, told CBC. "It's not something we could consider changing or altering in any way."

The Executive Table Group, which owns the restaurant Hydra Estiatorio in Vancouver, is struggling to source olive oil, with some suppliers saying it is simply unavailable. 

"It can be a scramble, especially for the smaller boutique importers who are sourcing from a single-origin farm," Greenfield added. 

Why are olive oil shortages concerning?

Olive oil is a staple food ingredient in southern European countries. In January, the European Commission found all European Union nations reported olive oil price inflation, with Portugal seeing the highest price increase (69%) over 12 months.

This means that budgets, already thin because of the rising cost of living, will be stretched even further. It's not just a taste issue — it's a cultural one, too, as olive oil is part of traditional recipes that have been passed down over generations.

But those costs aren't just high for olive-producing regions. They also affect the global market. The Guardian cited data from the Office for National Statistics that said olive oil prices for the average bottle in the United Kingdom have increased 89% in two years. 

Price rises and crop shortages of olives are concerning, but it's a trend seen across the food sector. Cocoa, rice, fruit and vegetables, and sugar are just some of the items that have been affected by extreme weather events, and the cost is being passed on to consumers.

What can be done about rising food prices and supply shortages?

While changing the weather is impossible, we can influence it. Rising temperatures exacerbate extreme weather conditions that affect global crop production, and the human production of pollution encourages rising temperatures.

So reducing the amount of planet-warming gases we produce is essential. We can do so by switching to renewable sources of energy, ditching the car in favor of a bike, or reducing purchases of single-use plastic items.

Finding sustainable options to ease supply chain pressure could help reduce food prices in the long term. Eating invasive species, whether it's fast-growing plants like nasturtiums or black mustard, or invasive aquatic animals like lionfish, could also help the environment.

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.

Cool Divider