Costco Turns to Greek Olive Oil

SEATTLE, WA – The Seattle-based gargantuan shopping club Costco is going Greek. At least in terms of its olive oil, the Seattle Times reports. Typically, Costco turns to Italy for its olive oil supply, but this year that country has been beleaguered by a hot spring, a rainy summer, and olive-eating flies, the Times reports. Accordingly, production is expected to drop by 34 percent in Italy this year, the International Olive Oil Council reports.

As a result, Costco realized it need a dependable “single source of good quality,” CFO Richard Galanti said, and so “for this year we went to Greece.”

Spain, which produces even more olive oil than either Italy or Greece, also suffered from uncooperative weather this year, and its production fell. By contrast, Greece has enjoyed a boom year and its olive oil production is expected to double last year’s output.


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