As of: March 13, 2024, 6:10 a.m
By: Nico Reiter
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Olive oil prices in Spain are high and thefts are increasing.
The coveted 'liquid gold' is now being traded on the black market by organized gangs.
Madrid - The bottles that are locked in Spain's supermarkets and can only be opened by staff are not spirits - they are olive oil.
The Guardian
reports that several bottles of olive oil are being linked together and sealed to make theft more difficult.
But why is the oil suddenly so popular?
Crop failures lead to olive oil shortages in Spain
In recent years the price of the product has increased significantly.
After two consecutive years of poor harvests, the country is facing an olive oil shortage.
It is expected that 2.4 million tons of oil will be produced this year, while demand is at 3 million tons.
Prices have quadrupled.
A few years ago a liter of olive oil cost around 5 euros, today you have to pay up to 14 euros for it.
This can significantly increase the purchase bill.
(Symbolic image) Olive oil is becoming the most stolen product in Spain © Gerhard Leber/Imago
Organized groups sell stolen olive oil at high prices on the black market
However, the thefts are not committed by individuals.
Organized groups are trying to make a business out of the shortage.
The stolen oil is sold on for good money under the name “liquid gold”.
“We are seeing a big increase in thefts,” Ruben Navarro, CEO of supermarket chain Tu Super, told
Reuters
. “It has become an ideal product to steal.” In this country, too, the price of olive oil has skyrocketed in recent years.
Resale on the black market is not uncommon, but usually involves other products such as alcohol, drugs and weapons.
Theft from supermarkets is rare - and when it does, it involves exclusive products.
Alejandro Alegre from security firm STC tells
The Guardian
: “Olive oil is one of the few products that could be considered a staple food.
The others are Iberian ham, aged cheese, razor blades and alcohol.”
Thefts in Spanish supermarkets have been increasing in recent years
There are similar incidents not only in Spain, but also in Greece and Italy.
In December 2023, several people were arrested in Spain and Italy.
The police discovered over 5,000 liters of olive oil at the organization.
Cheap oil should be resold here at a higher price.
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However, with the theft of olive oil comes a general increase in thefts in the country.
The Confederación Española de Organizaciones Empresariales (CEOE), which represents Spanish companies, reports a 30 percent increase in the country's supermarkets in 2022 and a further 12 percent in 2023. The bottles have been chained together since September.
“It’s a crazy, extreme measure, but it works,” Navarro said.
(No)
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