SAN FRANCISCO, Jan. 3 (UPI) -- Due to a poor farming season, olive oil manufacturers in places across the world have less supply, and that will likely raise prices.
California grows a small portion of the world's olive oil, but the state's supply is down 40-50 percent, compared to average supplies. The places that grow the most olive oil, from Europe to Northern Africa, are also experiencing shortages.
Spain and Italy, which produce most of the world's olive oil, are also said to be at levels 40-50 percent below average.
The shortage is mostly due to poor weather conditions and an increase in the number of pests feeding on the plants.
Greece is producing a relatively normal amount of olive oil, but Morocco and Tunisia are also producing less than normal. Syria is normally a significant producer of olive oil, but the civil war in the country has halted much of its production.
The cost of producing olive oil was said to 121 percent more in December than the same time in 2013, according to the International Olive Council, and costs may continue to rise.