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Olive oil prices are surging in Europe — Will your next bottle come from California?

February 18, 2017: From MarketWatch:

"The countries best known for olive oil — Italy, Spain and Greece — have had bad harvests this year from unruly weather""and the prices for olive oil have jumped in response. Meanwhile, California has been steadily increasing its olive oil manufacturing, and implemented strict standards for the oil."
"More domestic players are joining the U.S. olive oil production business, which has seen a 9.2% increase in revenue over the past five years, and demand and revenue are expected to continue to rise through 2021, though at a slower pace, according to research firm IBISWorld. California alone makes up more than 99% of U.S. olive oil production, according to the California Olive Oil Council. "
Farmers must go through rigid certification testing by the California Olive Oil Council, which is celebrating its 25th anniversary this year, including a chemical analysis of the oil as well as a sensory evaluation after every olive harvest. The California Olive Oil Commission, an industry group of olive farmers, created standards the California Department of Food and Agriculture approved in 2014."