Demand for Cut Salad in Greece Drops 20% MoM in November

During autumn 2022, the Greek fruit and vegetable sector was heavily affected by a significant drop in demand coupled with high supply. Warm weather conditions in Greece increased supply, with yields from summer plantation farms continuing that would have normally stopped producing by this time as well as early winter yields from newly installed plants. The drop in demand is mainly caused by inflation, rising interest rates, and high living costs with reduced income. The Greek retail market reported a significant drop in demand across all sectors on November 2022. For the first time in its history, the cut-salad industry reported a 20% drop in demand MoM, raising the possibility of a YoY demand drop after 10 years of constant expansion. The industry has tried to boost demand with promotions as it keeps receiving raw material from all contracted growers, but the profit margin is decreasing. If this level of product market saturation continues, all growers will not be able to be supported.