🔒 Security Tags on Olive Oil: In Spain, supermarkets are adding security tags to olive oil bottles due to rising thefts. Prices have soared, making olive oil a target for shoplifters.
💰 Price Hike: The cost of one-litre bottles of extra-virgin olive oil has hit as high as 14.5 euros, driven by a 150% price increase over two years. A severe drought has impacted the olive harvest, leading to higher prices.
👮♂️ Combatting Theft: Supermarket chain Tu Super is chaining large bottles to shelves, while Carrefour and Auchan use security tags. The police have arrested individuals for stealing large quantities of oil.
📉 Impact on Consumption: With Spain being one of the world's largest consumers of olive oil, the price hike has led to a 17% drop in sales of extra-virgin olive oil.
⚠️ Broader Shoplifting Issues: The theft of olive oil reflects a wider increase in shoplifting in Spain. Retailers report a 30% rise in thefts in 2022, and 12% in 2023.