Increased production expected to lower olive oil prices
- Written by E.Tsiliopoulos
Olive oil production in Greece is expected to be moderate to good, according to current forecasts for 2024. Production is anticipated to range between 250,000 and 280,000 tons, as noted by President of the National Interprofessional Olive Oil Organization (EDOE) Manolis Giannoulis, in an interview with Athens-Macedonian News Agency.
However, achieving these figures depends on mild weather conditions. The absence of extreme temperatures and the presence of some rainfall are crucial. “ For this to happen, a stable weather pattern up to the harvest period, which is in four months is essential,” Giannoulis emphasized adding that “ high temperatures and drought are causing concern among producers.”
Regarding producer prices, Giannoulis highlighted a current decline. “ Compared to the historical highs of 9.5 euros per kilogram observed 3-4 months ago, the price has now decreased to 7 euros per kilogram for extra virgin olive oil” he said.
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