I don’t know if i’m living under a rock and i’ve noticed things like a block of cheese going from $7 to $12 but when did a can of olive oil go from $27 to $48+?
Does this alone explain the double digit profit growth on single digit sales growth of the bigger supermarkets?
share your thoughts and conspiracy theories!
Not good for you though
Oh man I hope you only cook with it once a month.
Think imma have to research this now. I assumed all oils were similarly bad for you.
Definitely not the case.
@Mechz: Okay thanks for the heads up. Now I’m going to have to go through my entire pantry and google everything to find out what else is trying to kill me.
@samyall: Thanks mate, that was a scary awakening. I will switch back to olive oil. Glad I came here.
@Some Human: No worries.
I actually switched to olive full time after the Cobram tasting event that was shared here a while ago. They were very convincing in their pitch that olive is best and that they are the best in Aus.
I prefer Cobram but Red Island is their brand of slightly lower quality oil that doesnt make the cut for the Cobram brand and is often on sale.
Not much of a conspiracy, demand for olive oil increased quite a bit during covid19 as people were eating at home and had more money for nicer quality items.
Then in the last year there have been massive draughts in europe with olive oil output has halving in spain, which I belive was close to 50% of the worlds output. I am sure other countries in greece and italy also had a decrease in production due to draughts.
The price of draughts (beer) has gone up too!
But yeah, droughts have hit crops hard in Europe.
Lockdown also allowed people to play draughts more!
Olive oil or the Mediterranean diet is better for cardiovascular health, increasing the cost prices people out.. end result reducing the population (population control)
Best conspiracy i could come up with
The price of olive oil has been subject to fluctuations over the years due to various factors such as weather conditions, supply and demand, and geopolitical events. However, there have been a few notable periods when the price of olive oil experienced significant increases.
It's due to climate change.
And also covid.
You don't need olive oil to "eat ze bugs" anyway.
Eat ze bug!
Live in ze pod!
Own notzing!
Be happy!
A bug a day keepz ze climate change away!
The real Mad Max said very little.
Try it.
"The world will not be destroyed by those who
do evil, but by those who watch them without
doing anything."
Cannot be silent in the face of madness.
Try it.
….all hail The Great Reset comrade Max!! it is time To Build Back Better and celebrate the successes of the 4th industrial revolution!!
Praise our brave and noble Herr Klaus & Brother Bill for showing us & leading the way!!!
Praise our brave and noble Herr Klaus & Brother Bill for showing us & leading the way to hell!!!
I fixed it for you.
farkin lol!
luckily i stocked up on the 3L red island olive oil deals a while, cost me about $6/L
Does this alone explain the double digit profit growth on single digit sales growth of the bigger supermarkets?
We don't have an inflation problem, we have a profit problem.
It's not really the supermarkets that set the price/increase it. Why they have some control over it, its the supplier/maker of the product at the end of the day.
Supermarkets generally work on a % mark up, so as prices go up, so does their profits.
I'm reasonably confident that our supermarket duopoly drives a hard bargain with their suppliers. If a supplier won't sell at a price that the supermarkets can make a profit on, with steady level of sales, the supermarket will drop the product.
I understand that the supermarkets also inform the suppliers when their products will be on sale; that reduced price is fed back to the supplier (less the profit margin).
a supplier won't sell at a price that the supermarkets can make a profit on, with steady level of sales, the supermarket will drop the product.
That is the % they work on, the lower the volume of sales, the higher this is.
So yes, there is a point that the supplier and duopoly supermarkets just say no. Hence why IGA has a totally different range of products you don't see in the duopoly stores as they'll take a lower %.
I understand that the supermarkets also inform the suppliers when their products will be on sale; that reduced price is fed back to the supplier
Oh it's a very one sided arrangement for sure, but these are not 'new' issues. Supermarket profits are up as food has gone up. Its not them putting up prices and the supplier not getting an increase. 10% of $100 food spend is $10, 10% of $140 food spend, is $14. As so food goes up, so do their profits.
If you look around, no big company seems to be having a 'profit' problem, they all seem to be making record profits from increased prices while claiming 'inflation' as the cause.
So do we really have an inflation problem or do we have a profit problem with big business. As a lot of these companies are at record profit levels.
So if there was supply chain or inflation issues, is hasn't hurt the profit at all…….. Hmmmm
Time to buy Cobram shares?
do you rate their olive oil?
I observed a lot of things have went up in price around/after interest rate increase.
Did you ring 000 ?
it does feel like an emergency…..
Production isn't the problem.
It's the planned economic damage over the last 3 or so years.
I typically buy a well known high quality greek brand that is imported & distributed by a small local family business. It's price has gone from $30 or so to roughly $42-6.
I can guarantee you it is not a case of grower or supplier or retailer greed that is the issue. The astronomical increases in shipping brought about by drastic shutdowns, disruptions & general mayhem of supply chain logistics, thanks to our overlords long con, are probably the major factor in the price increases. Add in deliberate compliance costs, fees & charges for this that & the other, & there you go.
And in case people haven't noticed, most other imports (& local products) have also gone way up in cost, & they probably will go up further once old stock is sold. Case in point being dairy products, a good quality organic unsalted butter I buy has gone from about $3.50 to $4.90 (just recently went up). And that's the budget butter, some of the other smaller brands are charging anywhere from $7-9 for a 200-250gm block. That's not greed either, but bureaucratic compliance red tape that is deliberately strangling the industry.
Whatever money people have is being rapidly made worthless.
All part of the plan.
First poison people with man made diseases and "safe and effective" vaccines.
Then slowly take away their wealth blaming man made inflation, carefully engineered wars and exaggerated climate change fear.
Go with the negs from the government narrative lovers cults. The more the better.
User name checks out
Nothing "exploded".
Inflation is a tad high at the mo…have you been under a rock and not noticed, it is affecting the price of nearly everything.
The savings interest rate is rising too…woo hoo yippee. Or do not like that going up either?
i should put money in a term deposit… laziness is costly
Latest increase, imported greek olive oil, Minos brand at local deli up to $50. Used to be around $30, stable for years, increased to $33, $35, $40, $43, $46 & now $50.
Wakey wakey ozbargainers, the octopus is tightening its grip. Enjoy the fiat while it lasts. Satoshi Nakamoto is knockin' on the door.
After a $5 increase to $55 a few weeks back, it now has increased again to $65 per tin, Minos (Greek) brand. From what I am hearing over in Greece the price has gone up there to about 10-15 euro per litre. Locally, I expect it will continue to rise.
Intentional small to medium sized business destruction, that benefits the corporate masters.
I switched to vegetable quite a while ago. Seems to make my Schnitzels crispier.