Have you ever seen the price of Pure Olive Oil be almost as high as Extra Virgin Olive Oil? I have — most of us in the food manufacturing world have. And people often ask me why.
The answer is simple and complex at the same time. In a vacuum — in a perfect world — the price of pure olive oil should fall somewhere between Extra Virgin Olive Oil and Olive Pomace Oil. It is, of course, the olive oil grade between these two extremes (along with Refined Olive Oil) and pricing should correspond.
In the good harvest times, it follows exactly this pattern. But in times of poor harvest and bad olive oil production, the olive oil commodity market (aka, the simple economics of supply and demand) has more of an impact on the pricing comparison scale that you might expect.