Olive Oil Prices Rise, Sales Drop across the Globe
Greece, of the leading olive oil producers, harvested 120,000 metric tons of olives in 2023, less than half of the previous crop
Greece, of the leading olive oil producers, harvested 120,000 metric tons of olives in 2023, less than half of the previous crop
This discrepancy occurs because the weighting of olive oil in the consumer price index, as prescribed by Eurostat regulations, is significant due to its historically high consumption by Greek households
In 2023, Greece represented approximately 4.7% of U.S olive oil imports (up from 3.3% in 2022), holding the 5th position in the market
Efforts aim to stem tide of foreign farm imports being rebranded as domestic products
A five-liter can rose, on average, from 58 euros to 65 euros over the same period.
The rise in irregularities and adulteration threatens the integrity of the olive oil market, impacting consumer trust and the efforts of genuine producers committed to quality.
Lower demand combined with new harvest quantities end latest runaway price hikes
Olive oil… sparks new increases in food service
So far, 500 unemployed people from all over Greece participate in the program that runs on the island
Cheaper olive oil - not cheap - can be found by the consumer through the comparison on the e-katanalotis platform
The first quantity of domestic olive oil produced this season (2023-24) debuted last week at an agreed to price of 9.25 euros per kilo
The estimate of a shortage of 1 million tons of olive oil worldwide creates uncertainty about where the "ceiling" of increases lies.
The theft of olive oil in Halkidiki, which was reported by the Olive Oil Cooperative in Polygyros, has raised many questions.
Food exports increased in June by 13% - The largest increase is recorded in the olive oil category at a rate of 135%
Strong commercial interest from Spain and Italy
The opportunity clearly lies ahead. Over 300 recognized olive oil standardization companies operate Greece
The reduction is primarily due to drought and high temperatures in Spain
According to the Commission’s provision forecast, olive oil production in Greece will rise
Διαχειριστής - Διευθυντής: Λευτέρης Θ. Χαραλαμπόπουλος
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