Olives and almonds “to cost more” in retail markets

olives w almondsTwo more delicacies are rising in price as lovers of fine food are coming to terms with a goat’s cheese shortage.

Premium olives and almonds will both be costing more, according to magazine The Grocer. Greece’s crop of Chalkidiki olives – often stuffed and used in premium chilled lines – is being picked now and could be down by as much as 80% on last year because of poor weather, it reported. This will push up costs and some suppliers predict consequent retail price increases of more than 50%. Meanwhile almond prices are expected to rise because of crop problems and growing demand.

Production in California – the world’s largest almond producer, at about 80% of global supply – is expected to be down 2% year on year for 2013/14. The decline may be partly the result of a fall in the local bee population, which hindered pollination. The main almond region in Spain – another major producer – suffered from exceptionally wet weather this spring, which cut the number of maturing almond plants. Demand for almonds is high, with China and India increasingly competing with European buyers for stocks. More encouragingly, Richard Waycott, president and chief executive of the California Almond Board, said while Californian production would be lower, “this will most likely still be the third-largest crop on record”.

Earlier this month, The Grocer said that Britain faced a goat’s cheese shortage because of increased demand and reduced supply.

(Source: MSN News – http://news.uk.msn.com/olives-and-almonds-to-cost-more)

More at: http://www.thegrocer.co.uk/fmcg/olive-shortage-to-trigger-rise-in-retail-prices/350979.article

Olive shortage to trigger rise in retail prices

Foodies face a sharp rise in the cost of premium olives – just weeks after being warned of a goats cheese shortage…