Why has the price of olive oil in Morocco increased by 50%?

The price of olive oil in Morocco has recorded record increases (+32.9% on average over one year) due to the persistent drought that has hit the kingdom for several years. This highly prized product seems to be becoming inaccessible for low-income Moroccan families.

Olive oil is overpriced in Morocco. The prices of this widely consumed product have increased by 50% over one year, going from around 90 dirhams per liter at the start of the year to 140 or even 150 dirhams per liter in large cities. This record price increase encourages counterfeiting and speculation around olive oil. Reda Tahiri, a young olive grower, justifies this surge in prices by the drop in yield. “Last year, we had a small olive production. This year, it’s even less. If we don’t have olives, we can’t have oil. It’s a question of availability of the raw material,” he explains to H24info.