[Exclusive] Olive Oil Prices Soar to ‘All-Time Highs’… “I Should Have Purchased It in Advance”

Olive oil 19,800 → 26,500 won

International olive oil prices hit record high

Spanish drought halves crop production

Cocoa futures prices also tripled in one year

The phenomenon of dandelion is also occurring due to the low amount of sunlight in the country.

According to the distribution industry on the 12th, the price of CJ CheilJedang olive oil sold at three large marts has increased by 33.8% since the beginning of this month. The price of 900ml of ‘Baekseol Pressed Olive Oil’ went up from 19,800 won to 26,500 won, and the price of the 500ml product went up from 12,100 won to 16,200 won. During the same period, Samyang also raised the price of its olive oil products by more than 30%.

Olive oil prices from other food companies are also expected to rise one after another. An industry insider said, “Sajo Daerim and Dongwon F&B also sent price increase requests to large marts around the same time,” and “It seems likely that the price increase rates for other companies’ products will be similar (to CJ CheilJedang).”

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These days, I feel like there is nothing that doesn't increase except for salary.