Record Cretan exports in 2023 but with a 50% reduction in olive oil began in 2024

Olive

Market & Price Trends

Published Mar 29, 2024

Tridge summary

In 2023, Crete's exports soared to a record-breaking 885.60 million euros and 471,143 tons, a significant increase from the previous year, with olive oil leading the charge, accounting for over half of all exports and witnessing a 69.5% surge in value. Other notable sectors contributing to this growth included horticulture and various food and beverage categories. The primary markets for these products were Italy, Germany, and Spain. Despite the success, there's concern over the sustainability of olive oil exports due to production constraints and rising prices, which might reduce exports and deter consumers. The outlook for 2024 remains cautious, especially with adverse weather impacting olive production, and a recovery not anticipated until 2025.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

2023 closed with a new record for Crete's exports, according to the provisional data of EL.STAT. edited by the Exporters Association of Crete. Cretan exports, not including petroleum products, reached the amount of 885.60 million euros and 471,143 tons, compared to 688.30 million euros and 422,220 tons in the corresponding period last year, showing an increase equal to 28.7% in value and 11.6% in quantity and breaking last year's record. In the agri-food sector, Olive oil reached 466.3 million euros, occupying 52.7% of all Cretan exported products and 76% in the Food & Beverages category, with an increase of 69.5% compared to last year's corresponding space. Horticulture follows and reached 89.6 million euros with an increase of 18.5%, Fruits with 13.9 million euros and an increase of 3%. With smaller percentages follow Fish & Seafood, the category of Waters - Soft Drinks - Juices, Dairy Products, Wine, Honey and Meat and its Preparations. Regarding markets, the main buyers of ...

Source: Agrotypos