Olive oil: price increases one after another

DALL-E

The sharp rise in prices for olive oil has forced farmers to even hire security officers to protect agricultural land and green gold production workshops.

The price of olive oil has increased as it becomes a luxury product. Consumers will have to reach deep into their pockets to have the same amount of olive oil on their tables as before. As you know, the Greeks did not skimp on oil, generously pouring over the salad, frying fish in it, and so on. Now you will have to add oil to the salad drop by drop, almost from a pipette. And as for frying…. You can completely forget about it: “I don’t care about fat, I wish I was alive.”

According to first estimates, olive oil production will decrease from 340,000 tons to 150,000-180,000 tons. Already, producers are selling olive oil wholesale at a price of 150-170 euros per jar, compared to 60-80 euros two years ago, and the retail price has exceeded 10 euros per liter. However, as we all know well, the price of oil began to rise two or three years ago.

• Autumn 2022: 5.45–5.75 euros/liter.
• July 2023: €6–6.40/litre.
• August 2023: €9.50–€12/litre.
• November 2023: 12–15 euros/litre.

Soaring prices have even forced manufacturers to hire security personnel to protect their property. “There is a serious problem: in many cases, vandals, when stealing olives, damage trees – they break branches! And this is bad, because not only do we lose the harvest, but the tree is destroyed,” notes olive producer Dimitris Liepouris.

“Production is down compared to last year, I have a week to harvest the olives. Last year I collected about 5 tons of oil, this year it will be a miracle if I collect 500 kg. Last year I sold it for 6 euros. And this year the price from the manufacturer will exceed 10 euros,” he continued.

President of the agricultural cooperative “Kerateas”: “We decided to hire a watchman who walks around all the plots with a dog.”

Olive producer and vice-president of the Union of Agricultural Cooperatives of Heraklion Myron Chiletzakis expressed his competent opinion: “The price will skyrocket due to bad weather and crop failure. Last year we produced 350,000 tons of olive oil, and this year we will not exceed 100,000 tons. Fresh oil (from the current year’s harvest) when sold in bulk will exceed 10 euros, so the price will reach 25 euros per liter. Besides the volume produced by Greece is not enough for export. Premium olive oil cost 20 euros per liter and now it is unknown to what extent it will increase. The price of cans of olive oil has also skyrocketed.”

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