Olive oil prices in Greece will not fall until the next harvest

Published Feb 8, 2024

Tridge summary

Olive oil prices in Greece have surged to a historic high of 15.06 euros per liter due to a pan-European decline in production and a reduced supply from last year's olive oil. The President of the National Interprofessional Organization of Olive Oil, Manolis Giannulis, has indicated that these high prices are likely to persist until the next olive season.

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Original content

In August 2023, olive oil in Greece cost 8.10 euros per liter, but a few months later the price soared to 15.06 euros per liter, and a two-liter package reaches 27 euros. The President of the National Interprofessional Organization of Olive Oil (EDOE), Manolis Giannulis, emphasized that “prices are high and will remain so until the next olive season. Whether they will rise further, we do not know. However, at the moment prices are at historically high levels. In particular, the producer price for extra virgin is more than 9 euros per kilogram, while prices on the shelf, depending on the company, range from 13 to 15 euros, and in a tin - from 160 to 170 euros." He also added: "Last year's olive oil, which ...

Source: Oilworld