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by mk89 326 days ago
We're talking about mainly 4 countries in the Mediterranean Sea.

The way I see it is that while it's true that there is an issue with the weather, they increased the prices in 2022 due to old high-demand/low-offer law (other cheaper oil not available, buy whatever is there: olive oil). The prices never decreased though, or if they did, it's unnoticeable. This pattern I have seen multiple times in my life: once companies realize people are going to pay for something for a certain price, why reduce it?

1 comments

I guess plants don't respect Adam Smith. To lower prices you should increase production, but you can't increase production of plants by just pressing a button and have two times more copies of them, you need more land and wait many months for them to grow.