Exports and prices of olive oil prices in Greece are looking up

Published 2021년 3월 4일

Tridge summary

The article highlights the current state of the extra virgin olive oil market in Europe, with a focus on Greece. It notes a slow rise in producer prices, currently slightly above €2.90 per kilogram in Laconia, due to limited supply and COVID-19's impact on market planning. The reopening of the restaurant sector and tourism could potentially drive prices above €3.00. The article also points out the growth in Greek bottled olive oil exports to EU and non-EU countries from 2002 to 2019, with Germany being the largest recipient in the EU. The increase in exports is attributed to the efforts of small and medium enterprises producing high-quality olive oil for both domestic and international markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The limited supply of extra virgin olive oil in Europe has created the conditions for an upward trend in producer prices in Greece. However, the Greek market is moving at a sluggish pace due to traders’ reluctance to buy based on their medium-term needs. So far, olive oil prices remain unchanged since last December. Due to the COVID-19 pandemic, the planning horizon has been short-term and does not include the summer months that normally accounted for. As a result, buyers are thinking twice about their every move. Market sources estimate that transactions will pick up again in the major trading points as soon as the first signs of a market restart are visible, especially in Italy and Central Europe. Currently, producer prices show a stabilization at slightly more than €2.90 per kilogram in Laconia, with few transactions reaching €3.00 per kilogram, after the Metamorfosi cooperative sold two tanks for €3.10 per kilogram about 15 days ago. Producer prices are also below the €3.00 ...

Source: Olive Oil Times