Italians cut back on olive oil as prices surge, survey says. Producers are pushing back on that

By COLLEEN BARRY
AP Business Writer

MILAN (AP) — A new survey says one-third of Italians have reduced their consumption of extra virgin olive oil due to skyrocketing prices. But Italian producers are pushing back against the data released Friday, saying the snapshot of consumer sentiment doesn’t give a full picture. They say sales of higher-quality Italian extra virgin olive oil are actually up. The reported drop in Italian consumption of the staple is much less than in other olive oil-producing Mediterranean Sea countries. Industry estimates indicate Greece and Spain have both seen olive oil sales plummet by one-third over the last year. Two years of drought has drastically cut production in Spain, the world’s largest olive oil producer, and pushed up global prices.