Olive oil, cherished for its rich flavor, health advantages, and culinary versatility, is a staple in many kitchens, but an unfortunate series of events has led to a surge in prices.
Estimates suggest that the price of olive oil has risen by as much as 110% in the last three years. And in some instances, climbing prices mean that a bottle of olive oil may be setting you back more than a bottle of wine.
A drought in Spain’s region where most olive oil originates from, combined with increased export costs and extreme weather, are contributing to skyrocketing prices.
And prices in Northern Ireland have not been immune, with a branded bottle of olive oil now setting you back more than a bottle of wine in supermarkets.
The Belfast Telegraph has surveyed prices across Northern Ireland to compare how prices for the new ‘liquid gold’ compare.
We compared a range of supermarkets and looked at prices for own brands and for well-known brand names, including Filippo Berio and Napolina.
As can be expected, supermarket own brands were consistently cheaper than their branded counterparts, with prices quite consistent between supermarkets.
On average supermarket own brands were around £2 cheaper than their branded rivals on supermarket shelves.
In Tesco, Napolina’s 500ml bottle of olive oil was £7.95, compared to Tesco’s own brand 500ml bottle, which was £5.75.
One liter of Napolina olive oil costs an eye watering £13 in Tesco, while its own brand was only £7.80.
Similarly Sainbury’s own brand 500ml bottle of olive oil was priced at £5.75, while a bottle of Napolina was over £2 more expensive.
The price of a 500ml of supermarket own brand olive oil was fairly consistent with Asda’s 500ml bottle, also retailing for £5.75.
Dunnes was the cheapest of those surveyed with their own brand bottle coming in at under £5.
Estimates suggest that the price of olive oil has risen by as much as 110% in the last three years
While a 500ml bottle of Filippo Berio will set you back £8.55 in Dunnes Stores, their own brand 750ml bottle is almost half the price at £4.43
Dunnes Stores’ own brand range of olive oil also extends to their ‘simply better’ higher quality range.
A 500ml bottle of olive oil in this range will cost you between £4.99 and £5.89, while their larger 750ml bottles cost between £7.50 to £8.49.
Mace, which does not sell any own-brand goods, stocks 500ml bottles of Filippo Berio olive oil priced at around £6.35.
The Office of National Statistics (ONS) puts the average price of a bottle of red wine at £7.72 in the UK for 750mls. In contrast, according to our survey a 750ml bottle of Napolina in Sainsbury’s is currently priced at £11.
In Asda and Tesco a one liter bottle of their own brand olive oil is priced at £7.80.
