A remarkable incident took place in southern Italy last Wednesday that shows how valuable olive oil has become. A group of heavily armed robbers hijacked a truck full of the so-called ‘green gold’: extra virgin olive oil with an estimated value of no less than 300.000 euros.
Armed robbery on the highway
The robbery took place in the region Apulia (Puglia), an area known as one of Italy’s most important olive oil producing regions. The truck was overtaken and stopped during its journey by an SUV with 5 masked men. They fired warning shots, forced the driver to stop and then dragged him into their vehicle.
The robbers fled with the truck and later left it empty in a remote location, with the startled driver from Serbia next to them. According to the police, it was a well-organized group that probably knew which route the truck would take.
Why Olive Oil Is The New Gold
Extra virgin olive oil has been an important export product for Italy for many years, but in recent years prices have skyrocketed. In some parts of Puglia, it is now 10 to 12 euros per liter paid for. This price increase makes olive oil increasingly attractive to organized crime.
The cause of the high price is partly due to climate problems. Due to persistent drought, the olive harvest fell by about 20% last year. This year, unusual rainfall and a plague of olive flies are again causing problems in production.
Security increasingly needed
Due to the high value of the product, it is no longer unusual for trucks carrying olive oil to be escorted by police or private security services. The olive oil industry has proven vulnerable to organized crime, especially in regions where other forms of mafia activity are also prevalent.
Italian authorities are taking the case seriously and are investigating whether this robbery is linked to previous thefts of agricultural products.
Source: The Times/HLN