Global olive production declines, fake goods sellers enter the field – World

Fraud in the name of olive oil has increased worldwide due to reduced production due to climate change. The European Union has registered 50 cases of fraud in the name of olive oil during the first quarter of this year.

Spain supplies half of the world’s olive oil production. Now the production of olives is being badly affected due to climatic conditions. This is the reason that fake oil is also coming in the market and the cases of fraud are also increasing in this regard.

Cases of adulteration and mislabeling of olive oil are on the rise. The price of olive oil worldwide has doubled since 2018. The main reason for this is that the cost has also increased tremendously. In such a situation, some individuals and organizations are misusing olive oil or mislabeling it.

In 2018, more than 15 cases of fraud were registered in the European Union. Now the matter has gone from bad to worse. According to a report by the British newspaper The Guardian, cases of fraud in the olive oil trade are high. Fifty are the only cases that have been identified. These cases are increasing in many EU countries. Most cases go unreported.

In July 2022, the European Union unveiled new rules and procedures for testing and determining the quality of olive oil. The heat wave in Spain and other climate changes and the severity of global weather conditions have affected olive production to an extraordinary extent. According to data provided by the International Value Council, olive oil production in Spain is expected to be 2.4 million metric tons in 2023-24.

The drop in global production has driven up the price of olives and many sellers of substandard oil have emerged to take advantage of the situation. In November last year, the price of 100 kg of extra virgin oil was 787 euros. Only 262 euros increased in five years. Now that production has been more affected by environmental degradation, olive oil has become more attractive to fraudsters.