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There is a crisis brewing in the olive oil industry.

Drought on the Iberian Peninsula and floods in Croatia have resulted in a rocky start to olive development, spurring more price rises.

For Spain, a big olive oil supplier, the situation is even more worrying given the sector's disastrous output in 2021-2022. 

Drought spells 'catastrophe' for Spain's olive harvest

An ongoing drought and soaring temperatures have unleashed fears of an olive "catastrophe" in Spain, the world's largest producer of olive oil, which suffered a very difficult year in 2022. "This happened as the olive trees were in bloom," says Rafael Pico, director of Asoliva, the Spanish association of olive oil producers and exporters, who fears the blooms will dry up.