Too expensive for popeye the sailor man.

Trade of the Day: Bruschetta About to Get Ruinously Expensive

Mark Gilbert is a Bloomberg Gadfly columnist covering asset management. He previously was a Bloomberg View columnist, and prior to that the London bureau chief for Bloomberg News. He is the author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”
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A drought in the south of Spain, which produces half of the world's olive oil, combined with a bumper harvest last year that sapped the vigor of trees threatens to reduce this year's crop by as much as 40 percent, the Guardian newspaper reported.

So the Trade of the Day is to slather a thick slice of toasted sourdough bread with olive oil, caress with garlic and top with fresh tomato and basil. The price of olive oil has soared by more than 46 percent in the past three months; at more than 2,400 euros per metric ton, it's far too expensive to waste silencing squeaky doors, easing stuck zippers or moisturizing your cuticles.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Mark Gilbert at magilbert@bloomberg.net

To contact the editor on this story:
James Greiff at jgreiff@bloomberg.net