The Olive Oil Crisis Spreads as Prices Soar. What’s to Blame.

Crude has fallen some 10% this year, but another, less crude variety of oil is rocketing higher. Prices of extra virgin olive oil are at a record high, according to statistics tracked by the International Monetary Fund going back to 1990. In April, olive oil was trading for $6,269.63 per metric ton, up 46% from last year’s level.