What you're told: 'we are strayan owned cute little family business so we have to demand extra prices to support local farmers and communities, we are esg, impact climate friendly organisation that looks after the land'
The reality: we are a listed company that now has to meet investor needs and grow at all costs
I liked their stuff till about 1-2 years ago when their price increases started taking the piss.
And the severe shortage of Olive Oil is over (according to the media) so they'll have to find another excuse for their new higher prices.
Ah yes, these things flow into the supply chain instantly, great point
@mickeyjuiceman: Straight from their February presentation:
"Growing branded product sales and improving the net price per litre for CBO’s extra virgin olive oil.
Continued premiumisation and differentiation of the Company’s brands globally whilst never compromising consumer trust and/or value proposition."
So basically, they're positioning their olive oil as the Rolls Royce of olive oil's, charging more per litre, when in reality it's the same oil from 8 years ago but their overheads are going up (marketing, overpaid execs, consultants and growing debt burden due to aggressive growth ambitions).
@tightm8: If I was replying to you, I'd have replied to you. It clearly had NOTHING to do with what you said.
Wasn't there a recent news report that this year's olive oil crop ws a bonanza? They are raking in cash at this point
If people don't get crazy about it at this price then we'll be seeing half price again soon. HODL!
I haven't seen it over a year
Meh, when the price is too high I stop buying.
It's the only way to change the practice of corporations.
Same deal when lettuce was $7-10, didn't buy it for a couple months like most people. It came back down to a reasonable price.
Speak with your Wallet
I'm not sure but wasn't it because of the weather?
Yeah, that's the excuse.
Then there's the excuse for expensive eggs due to bird flu.
When fuel was expensive they blamed Russian war which is another load of bs, we import less than 3% from Russia.
it’s Putin’s fault
in the article in the paper, they said their sales still grew even with the price increases. i dont think theyre going to change that approach now. until european production improves and there is a global oversupply at least.
I just saw a screen shot I took of the same oil from IGA's 50% off sale in 2016, $5.49 per bottle. Hard to get excited about $15 "on sale".
I too like to reminisce about the past and how much 'better' it was.
That’s 9 years ago. With inflation that 5.49 should be 6.48 with today’s money.
I appreciate still lower than the current offering but I think it’s important to be accurate with inflation.
Olive oil is like love: Spaniards do it better
Shit when did olive oil get so expensive…im sure we used to buy the huge tins for this price back in the day.