Olive oil prices could jump as rough weather hits crops
Wacky weather in California has hurt olive crops, leading to a massive shortfall in expected yields, farmers say.
Olive oil output is expected to fall to 3.5 million gallons this year from 5 million gallons in 2017, according to the California Olive Oil Council.
Behind that drop was a sudden heat wave that brought above-average temperatures in February, followed by a frost that killed blossoms on the olive trees.
"Most people are down anywhere between 15 and 40 percent, there are some that are actually down 100 percent, and they're not even going to harvest this year," Karen Bond, California Olive Oil Council president, told CBS affiliate KOVR.
Many farmers switched to olive trees in the last decade because the crop is more drought tolerant. California recently endured its driest four-year period on record, with Gov. Jerry Brown declaring a drought emergency in 2014 and officials later ordering mandatory conservation for the first time in state history. The drought emergency was lifted in 2017.
This latest weather-related setback is expected to lead to a scarcity of olive oil on the shelves and even higher prices.
"I'm sure some brands will run out," Bond said.
The changing weather patterns aren't just hitting farmers in California. In Wisconsin, a spate of hot, wet weather this summer and over the past few growing seasons is hurting apple growers, as crops deteriorated during the dampness and some farmers were forced to harvest early, resulting in a smaller yield.
--The Associated Press contributed reporting
