On-the-Ground Update

Greek Retail Sector on Standstill for Fresh Fruit and Vegetables

Vegetables
Fruits
Fresh Lettuce
Greece
Market & Price Trends
Theodoros Damvakaris
Published Mar 29, 2023
Greek fresh fruit and vegetable markets experienced sales losses of 15-20% in the first 3 months of 2023. Retailers experienced the largest losses compared to other distribution channels. The successive interest rate increases from the ECB reduced household income, which was reflected directly in the drop in food consumption with the price inflation rate, persisting at 9–10%.
If the US bank crisis is restrained and there is an increase in demand from the tourist movement, Greek domestic food consumption is expected to increase by 30–40% between May and October 2023, especially in the distribution chains in the hotels, restaurants, and catering industry.
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