Hot on the heels of the Great Prosecco Crisis came harbingers of an even greater doom - a global shortage of olive oil. The International Olive Oil Council (yes, that's a thing) says there's likely to be a shortfall of 783,000 tonnes this year compared to the average world production over the past five years. Poor harvests have led to reduced supplies and increased costs, and supermarkets are trying to outdo each other with ever-decreasing prices, causing value to plummet.