Olive oil

As noted, the price that the first batch was sold for, reflects the exceptional quality of this year’s olive oil from this specific area

Greece's olive oil prices grew 56% from July 2023 to July 2024. While wholesale prices have started to decline, the cost-savings hasn't been passed-off to consumers yet.

Olive oil has been a staple in Greek society and culture, since the "beginning of time", holding a central place in all aspects of life

Greece, of the leading olive oil producers, harvested 120,000 metric tons of olives in 2023, less than half of the previous crop

Meanwhile, in Spain, which significantly influences the final price, the country has the potential to produce over 2 million tons in a year of overproduction due to its extensive olive tree population.

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

The aim of the competition is to highlight the quality and strengthen the image of Cretan olive oil in both domestic and international markets.

Greece witnessed the second-highest price hike (+67%) compared to 2023, with Portugal taking the top spot (+69%) and Spain rounding off the top three most expensive countries in the EU

The Working Group processed data concerning rainfall, temperature, and other more specialized meteorological indicators, as well as estimates of olive oil production in the Regional Units of Crete

Predictions in the olive oil industry are ominous as production is low, prices are surging and a decrease in consumption looms ahead

A five-liter can rose, on average, from 58 euros to 65 euros over the same period.

Expressing hope for further reforms, DEOPEL underscores the necessity for the government to tackle the chronic issue of migrant field labor shortage urgently

Spain, the largest olive oil producer globally, faced extreme weather conditions, damaging olive crops

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.

They are seeking compensation for lost income due to olive crop failure, demanding it be set at €200 per acre for all affected regions

Repeated thefts of olives, even while still on trees, the collected crop and refined olive oil around Greece generated a Reuters article this week. A poor harvest in the country – of only 170,000 tons – and lower production in Spain and Italy, combined with still pesky food price inflation, has led to numerous theft […]

The global surge in inflation from the “double whammy” of pandemic-related disruption and the Russian invasion of Ukraine has punished consumers in Europe over the past two years, with one “casualty” in Greece being the country’s iconic “souvlaki”, alternatively known the world over as “gyro”. According to market watchers in the country, the price of […]

Lower demand combined with new harvest quantities end latest runaway price hikes

The cost of olive oil has increased more than two-fold since last year and is estimated to hit 25 euro per liter due to anticipated low production levels and bad weather