Olive oil prices have increased by 38% compared to last year. Why? Drought and extreme heat in the Mediteranean area have reduced the harvest output by 50%.
Oranges are expected to severely increase in price in the following period. Why? Disease and bad weather (hurricanes destroyed the American harvest, while disease destroyed the Brazilian harvest).
Cocoa increased by 40% in price compared to last year. Why? West Africa is experiencing the worst drought in 20 years (Four countries in West Africa – Ivory Coast, Ghana, Cameroon and Nigeria account for 75 percent of the world’s cocoa production.)
