Foodies face a sharp rise in the cost of premium olives - just weeks after being warned of a goats cheese shortage.
Greece’s crop of Halkidiki olives - often stuffed and used in premium chilled lines - is being picked now and could be down by as much as 80% on last year due to poor weather. This will push up costs and some suppliers predict consequent retail price hikes of more than 50%.
“Some olive suppliers will struggle to meet existing contracts, with the impact of this felt as soon as the next one or two months,” said Sam Higgins, senior product marketing manager at distributor RH Amar.
It is bad news for Tesco, which has five Halkidiki lines after introducing two more with its Finest revamp this month.
Giles Henschel, owner of Olives Et Al, said he had been able to source enough Halkidiki for his company’s needs but added: “It is inevitable there will be retail price increases in some parts of the market.”
This month, The Grocer revealed Brits faced a goats cheese shortage due to increased demand and reduced supply.