*Above video shows New Day Cleveland recently visiting a local pizza place
(AP) — Pizza places, restaurants, and cooking at home are getting more expensive if you like adding olive oil to your ingredients, the Associated Press has found.
Almost all olive oil in the U.S. is imported from Europe. Spain is the world’s largest producer of olive oil and the price there has soared by a staggering 115% in two years.
Destructive weather in Europe from drought to flooding has damaged crops and the next harvest isn’t looking good either, especially in Spain which has experienced two years of extreme drought.
The New York Times reported that restaurant owners who buy olive oil by the gallon have seen prices soar from around $30 to $40.
Restaurant owners the AP spoke with said they’re either going to have to raise prices or use less olive oil which is often a favorite ingredient.