Hacker News new | ask | show | jobs
by luckys 326 days ago
Portugal. You would have to live here I guess. It was about 2 years ago and I don't have any sources to give you. Ask the locals if you know any.

Olive oil may be more expensive in general now because of poor harvests but at the time local production had been good and there was no reason to raise the price. The rationale? I guess it was profit.

3 comments

> at the time local production had been good

Ye,s but prices are not just local. In general these are world prices as it can easily be imported or exported. Even more so within the EU single market which IS your national market.

On top of that its entirely normal for the prices of products that can substitute for each other to move together. If one oil goes up in price so will all the others. This is market forces acting as expected.

I feel across Europe at least companies are using data to optimise price by demand closely - large corporate suppliers almost definitely have the staff at hand to increase prices using data in the same way that "surge" pricing is calculated these days. They have every incentive to do so since they want to maximise profit.
There was a huge spike in demand, due to the lack of cheaper alternatives.

Sadly enough, the prices have stayed the same, although the demand has very likely normalized, now that people can buy "again" sunflower and other vegetable oil.