The price of olive oil in Greece has exceeded the landmark level of 15 euros.
https://www.youtube.com/watch?v=lVWLxjG3IwU
What are the reasons for the sharp rise in prices
Market experts say production has dropped significantly compared to previous years. So much so that manufacturers are talking about the worst year in their history. However, this year’s olive harvest in Greece is quite good, thanks to which Greek producers sold 42% more oil than in 2022, harvesting 2.3 million tons.
Other experts believe that in fact, in addition to… weather games that have affected production, pests that cause headaches for producers also cause no less damage.
Olive oil price in euros for September 2023.
At the same time, the global price of oil has increased almost 3 times compared to 2020, although the decrease in olive yield was 26% compared to 2022, which rather indicates the games of resellers in this market.
Olive oil production schedule in 2023. Courtesy of the publication critida.com
What about in other countries?
The world’s main producers are SPAIN (-56% 6.5 million tons), ITALY (-27% or 2.1 million tons), Portugal (-39% 2 million tons), but Portugal produced 150 thousand tons more oil than in 2022.
In 2023, according to FAO, the world will produce 19.3 million tons of olives. In total, in 2023, the world produced 3,050,390 tons of olive oil.
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