The global shortage is also a reminder of how vulnerable our food supply chains are amid the climate crisis, the war in Ukraine, and recent attacks in the Red Sea.
“What we seem to be seeing is it’s becoming more frequent, more severe – we seem to be living in a more uncertain and risky environment,” said Alan Renwick, professor of agricultural economics at Lincoln University.
Safeguarding both global and domestic food systems needs to be a priority, Prof Renwick said.
“We need to really begin a dialogue about how we move from our efficient system to a resilient system, and that might need investment from Government.”
Despite a disruptive couple of years, Smith told Newshub he’s still feeling positive.
“Everybody’s hoping that this year will be a good season and we’ll have plenty of olive oil in New Zealand.”
It’ll all come down to harvest season in a few month’s time.