So I stocked up on olive oil. So if you like Australian stuff then maybe you should too.
Forget Christmas presents, give the gift of good liquid gold.
This week olive oil came to my attention - but not from a Coles specials app, but from the stock market. While doing the dishes and listening to Commsec, I learnt that Australia’s olive oil import supplies may be affected by the ongoing drought in Spain, resulting in a global shortage on olive oil.
Ok so most Commsec’s daily updates don’t really affect me. But I twigged on this one - olive oil supply & their prices do. It’s a life staple for me.
And there may be a few more years of oil shortages - as the New York Times writes that scientists expect this extreme heat this past European summer is set to continue onwards. Climate change. The scarcity of oil resulting in it, has become so significant that people in Spain are resorting to stealing olives - filling their cars with them, and in the last month thieves have literally knocked off hundreds of thousands of dollars worth in break and enter runs. Yes turns out that Olive oil is basically like ‘liquid gold’.
So according to Forbes magazine, Spain, who just happens to be the world’s largest producer and exporter of olive oil, made 50% less oil in its most recent season because of this weather. Italy, who is the world second largest producer, got recently hammered with storms impacting their crop.
Why is this important to us? Well, as I learnt standing there with my hands deep in soapy water, the Spanish are on the back of poor harvest, resulting in the price of our olive oil has over doubled in the last year - and thats affected us as mainly because we import almost 80% of our oil from Spain. I’ve seen the price of oil creep up in in the selves, like everything else, but I’d innocently put it down to inflation and not failed crops. But thinking back - in Covid I stocked up on $3 a 500ml oil ( the only one on the shelves) - that same oil now is $7.
Wild. Over 100% increase.
So whats that mean for me? Australian olive oil has become more competitive in the market and there’s been an increase in spending on it despite a modest decline in sales - all mainly due to these record high international olive oil prices, increasing the imported oil costs.
Extra virgin olive oil has a shelf life of 12-18 months, and this is what I use most daily. I roughly worked out, on average, that I consume 1/2 a litre a week…. Or 26 litres a year. Or for a 3 litre drum - thats roughly 8 of those 3 liter drums of oil.
So last week The Guardian did this review on all the best value Olive oils - and interesting to note that the 2 that they think are best, can both can be bought at my local Woolworths. Cobram Estate ranked ‘as an excellent ’ and so was the Woolworths Australian own ‘Extra Virgin Olive Oil ‘best all rounder’ .
(Worth noting that even though it didn’t make the ‘we recommend list’, the Coles Australian oil and the Aldi both came in the cheapest - but there were no prizes for taste - infact their low prices seem to be about their only redeeming quality)
For those with pennies in their pockets - their findings of the very best is Mount Zero Olives but it comes at a price. They won Gold at The Australian International Olive oil awards but at $50 a litre its got to be treated as such.
As I like things to taste good - and love a good recommendation - I’m going to stick with The Guardians findings. So here are the crunched costs of what it would be to consume each of the current oils if you use 1/2 litre per week for an entire year.
Mount Zero Olives Organic olive oil $50 a litre $1300 per year
Cobram $17.30 per litre (3 litre) $450 per year
Woolworths Australian Extra virgin $14.00 per litre (500ml) $364 per year
Coles Australian litre $10.50 per litre (3 litre) $273 per year
Aldi Australian oils $9.30 per litre. (3 litre) $241 per year
Spanish $11-$14 per litre variation in $280 - $360 per year
So anyway - a long story short, this week - I stocked up on Australian olive oil from Woolworths . I know that it’s a bit of a risk that the Olive oil price may go down, but I don’t know, with the rate of things going up around here - I’m hedging my bets.
In other news…
I’ve been flat strap - and honestly I cant even show much for it. The garden is gone nuts, my wedding prep is non existent and My Christmas mince cake fruit is drowning itself in some brandy and whisky - a recipe that my friend gave me.
I’m suppose to be doing tax. Full stop.
Opshop christmas shopping is in full swing. So far Ive found plenty of things I like and hardly any thing for the rest. Looks like Sarah’s going to get some antique plates for Christmas this year.
My Blue Esse Stove is still sitting on its slab in our kitchen which is not a kitchen as theres nothing in it. Basically I’m waiting for everyone to get their ducks in a row to put in. And that hasn’t happened yet - one chap went sailing across Australia and the other is hard to pin down. I’ve waited 7 years. Sure whats another month.
Kids holidays was full on. They are back at school. Im loving the birds in the early morning - and day light saving. Been up in the studio with the fire on in those early hours.
I went to the west to visit friends and family - a trip booked long ago. Lost my luggage and with it my mapping paperwork that I was doing. Feeling disheveled from it all. And they eventually found it - and its in the mail. But Im still feeling behind in things until it get back here.,
Things that are coming up….
The very good Goodlife Permaculture have a book launch called “Good Life Growing’ 14th November at The Hobart Town Hall. Ticket here
The Franklin Palais is hosting The Birdsong Tour tour by Josh Cunningham ( the waifs) and Felicity Urquhart… and we are going as Sarah did the Cover! 17th November 6.30- 10pm.
The Agrarian Kitchen Seedling Sale - Glitterlist worthy events. Only 1/2 hr drive out from Hobart. Stock up on your summer organic seedlings. 4th November 11-2. Cafe open on the day.
‘Picnic in Willow Forest’ At Fat Pig Farm. 12.30-3.00 9th December. They also have Saturdays ‘Pork + Pinot’ long table lunch days + garden walks all during Summer.
The Run River Lodge in Strathblane, has their very first festival ‘Cray Bake’ coming up on the 25th of November to celebrate the opening of the Cray Season. Free entry tix here Free.
Hobart Silent book club last meeting for the year is on the last last Friday of the month at Fuller Bookshop in November. 24th Nov starts at 5.30 Free.
Balfour house in Cygnet has their Christmas Market - Sarah has a market table with her cards and prints and I may make something for it too. 8th December.
Expect good beats as Home Hill Winery in Ranelagh have their Good Grapes Festival 20th Jan 13.00- 21.30. Get in quick - this place always sells out quick.
And thats a wrap. I’ll try and get my tax done, and play catchup when my suitcase returns…. And be able to move forward when my stove is in. Tomorrow I’ll pop up a few frugal tips I have. Till then…
xx LJ
A great option for olive oil is Nuggetty Creek Olives. They’re in Victoria but deliver to the rest of Australia. We buy a 20 litre drum of oil from them which lasts us the best part of a year. The last drum we bought was $180, free delivery. I see the price has gone up to $205 but it’s still very cheap per litre for quality oil.
I have been looking forward to reading your latest post all week 💗