The Olive Oil Crisis

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June 30, 2025 | Source: Bloomberg | by Lauren Markham

Last December, at the height of Greece’s olive harvest season, two men drove a stolen white truck to the Glyfada mill in a small town not far from Kalamata. After idling the truck for a while, the men stepped out of the cab, loaded 33 sacks of olives into the back of the truck, then drove to a field. They transferred their haul, worth about €1,500 (a bit more than $1,700), into different bags—presumably attempting to conceal its provenance—then dropped off the truck back at the municipal office where they’d pinched it. Unfortunately for them, they’d parked their ill-gotten getaway vehicle directly in front of the mill’s security camera, which made them easy to track. Also, they brought their bags to a second mill nearby and asked the owner to press the stolen olives into oil. Suspicious, he called the authorities, and that was that.

The whole thing had an air of slapstick about it. Who thinks they can get away with such buffoonery in a small town, where news travels fast? Stealing olives, of all things? But the theft was on trend. Rising temperatures in the Mediterranean had rendered olive oil scarcer than it had been in recent memory, leaving some of the growing region’s residents desperate enough that such a crime started to make sense.

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