Olive oil producer prices are falling rapidly, currently hovering around 5 euros per liter
Wholesale rates have dropped but retail price will remain high until at least next month
Wholesale rates have dropped but retail price will remain high until at least next month
In the last 12 months the price of olive oil in Greece has fallen by 39%-45% - What is happening in competing Spain and Italy - Greek exports have lost ground to Turkey
Greece has been ranked as the third-best destination worldwide for olive oil tourism, according to a recent study by Compare the Market.
Combined with the effect of the floods in Thessaly and the phenomenon of price increases in olive oil, the de-escalation of the index toward 2% is postponed until the second half, according to National Bank of Greece analysts in a special study, “Inflation and Short-Term Challenges,” published on Wednesday.
Food exports in the 11th month of 2023 amounted to €6.9 billion from €6.3 billion, showing an increase of 9% or €573 million, compared to the corresponding period last year
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
The Italian Institute for the Agricultural and Food Market of Ismea estimates that olive oil in Italy could fall by as much as 120,000 tons or 37 percent compared to last year.
Action is taken by olive producing agricultural cooperatives
The opportunity clearly lies ahead. Over 300 recognized olive oil standardization companies operate Greece
Sakellaropoulos Organic Farms (www.bioarmonia.gr) has been awarded at three international olive oil competitions in Italy, Germany and Japan.
Sakellaropoulos Organic Farms noted a record of 100% and 15 awards in equal number of participations in Turkey.