A survey reveals that one-third of Italians have scaled back their consumption of extra virgin olive oil (EVOO). A cornerstone of the Mediterranean diet, the drop in oil sales is due to soaring prices.
However, Italian producers are disputing the findings of the survey released on Friday. They argue that the snapshot of consumer sentiment does not provide a comprehensive view. They assert that sales of higher-quality Italian extra virgin olive oil (EVOO) are actually on the rise.
According to the survey conducted by the Piepoli independent research institute, consumers have reduced their consumption of EVOO by at least 30%. Average supermarket prices are escalating from €4 to €9 per bottle.
Nearly half of the respondents stated that they were substituting olive oil with cheaper seed oil. The survey, which polled 500 Italian adults, had a margin of error of plus or minus 4.4 percentage points.
Decline less than in Spain and Greece
While the reported decline in consumption is less severe compared to other olive oil-producing Mediterranean countries, the situation is still concerning for the industry. Spain and Greece have experienced a one-third decrease in olive oil sales over the past year,
David Granieri, president of the Unaprol olive-growing consortium representing half of Italy’s production, said the higher prices have led to a clearer market distinction between lower-quality and premium EVOOs.
At the end of 2023, Coldiretti stated EVOO production was well below the average of the previous four years,
Despite the Piepoli survey indicating reduced supermarket purchases, industry data suggests that domestic sales of Italian-produced extra virgin olive oil, priced up to €14 euros per litre, have increased by 8% in the first two months of this year.
Granieri highlighted that olive oil is not merely a commodity but a vital component of the Mediterranean diet, deeply ingrained in Italian culture and society.
Piepoli CEO Sara Merigo emphasised that the survey measured consumer sentiment, which differs from actual sales data. She noted the significance of olive oil in Italian identity and diet, which made the survey results impactful.
