Greece forecasts a poor 2023/24 olive oil campaign

Olimerca.- The olive oil sector in Greece has been very satisfied with the balance of this campaign thanks to two factors: As Vassilis Zampounis, Agroeconomist, Editor of olivenews.gr reports to Olimera, the current estimated stock is approximately 50,000 tonnes, making it difficult to predict final bridging stocks at the end of the 2022/23 marketing year. Looking ahead to the next 2023/24 harvest, experts unanimously anticipate a bad year for both the olive oil and table olive sectors. This projection can be attributed to two main factors: the biennial phase after an exceptionally good year and the unusually warm winter of 2022/23. Specifically, for the 2023/24 business year, analysts are projecting significantly reduced returns in several regions. Crete is expected to produce between 30,000 and 40,000 tons compared to the 100,000 tons harvested this year, while the Peloponnese region (mainly Messinia and Lakonia) will produce 70,000 tons instead of 120,000 tons. The remaining ...