The challenges in olive oil production have been nothing short of a crisis in Spain, the world's largest producer, where production was down 62 per cent last year, according to international olive oil expert Fil Bucchino, who is based in Toronto. WATCH | On the ground in Puglia:Début du widget Widget. Fin du widget Widget. Why olive oil is getting more expensiveThe price of olive oil has nearly doubled in the last two years, in part because olive farmers are facing a new set of challenges. Fin du widget Widget.