MILAN. A recent survey released on Friday indicates that one-third of Italians are reducing their consumption of extra virgin olive oil, a staple of the Mediterranean diet, due to soaring prices. However, Italian producers are challenging this data, asserting that sales of higher-quality Italian extra virgin olive oil are actually on the rise.
According to a survey conducted by the independent research institute Piepoli, consumers reported scaling back their consumption of extra virgin olive oil by as much as 30% to 50%. This reduction comes as average supermarket prices have surged from 4 euros to 9 euros 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.
While the reported decrease in consumption is less severe than in other olive oil-producing countries in the Mediterranean Sea region, such as Spain, which has experienced a significant drop in production due to two years of drought, leading to a global price increase.
Greece and Spain have both witnessed a one-third decline in olive oil sales over the past year, according to industry estimates.
Despite the softer impact on Italian consumption, the industry is not taking these findings lightly. David Granieri, president of the Unaprol olive-growing consortium, representing half of Italy’s production, emphasized that the higher prices have brought clarity to the market, distinguishing lower-quality extra virgin olive oils from premium varieties.
Contrary to the Piepoli survey, Granieri highlighted industry data indicating an 8% increase in domestic sales of extra virgin olive oil produced in Italy in the first two months of the year, despite prices reaching up to 14 euros per liter.
Granieri emphasized, “Olive oil is not a commodity. It is a nutrient at the heart of the Mediterranean diet and plays a fundamental role socially. This is something that is keenly felt in Italy.”
Piepoli CEO Sara Merigo noted that the survey measured consumer sentiment, which differs from actual sales data. She attributed the pushback against the findings to the deep cultural significance of olive oil in Italy, describing it as “not just a product” but an integral part of the country’s identity and diet for centuries.
Paraluman P. Funtanilla
Paraluman P. Funtanilla is Tutubi News Magazine's Marketing Specialist and is a Contributing Editor. She finished her degree in Communication Arts in De La Salle Lipa. She has worked as a Digital Marketer for start-up businesses and small business spaces for the past two years. She has earned certificates from Coursera on Brand Management: Aligning Business Brand and Behavior and Viral Marketing and How to Craft Contagious Content. She also worked with Asia Express Romania TV Show.
