Kreta - Predictions for this year's olive harvest

Predictions for this year's olive harvest

data_2024-09-07 20:27:20 2024-09-07 20:27:20

After last year's disastrous olive harvest and record-low olive oil production, everyone is wondering what this year will bring. The last months of the year are a time when olive grove owners are slowly preparing for the harvest and can already make preliminary estimates of what it will be like. These estimates have a real impact on the current wholesale price of olive oil. So what does it look like at the moment?

The last two years have been very difficult for olive oil producers. 2023 in particular has gone down in history as one of the worst. As a result of prolonged drought, high temperatures and fires in many regions, olive trees yielded much less than usual. As a result of a combination of negative phenomena, olive harvests were down by up to 40%. This situation affected not only Greece, but also the leading olive oil producers in the Mediterranean basin, namely Spain and Italy. As a result of poor harvests, much less olive oil was produced, and the oil that was pressed had much worse acidity parameters. Wholesale olive oil prices jumped to 9.5 euros per kilogram, which significantly increased prices for retail customers. High prices and reduced availability caused olive oil consumption to drop by as much as 40%, and many consumers had to turn to other oils and fats.

Olives

Currently, for the last 3 months, there has been a drop in the price of olive oil. In Greece, the current prices are around 7 euros per kilogram of oil, the highest price is 7.6 euros, and the lowest is 6 euros. In Spain, which until now was the leader in world olive oil production, prices have shown a slight drop and currently remain in the range of 6.87-7.68 euros. In Italy, prices are higher and range from 8 to 9.2 euros.

The current estimates for the olive harvest in Greece are quite positive and a good harvest is expected, although producers emphasize that there is no talk of any super production. At the same time, the Greek government is working on a plan to reduce VAT on basic consumer goods, including olive oil. Lower prices for this product, which is essential in Greek homes, are supposed to restore olive oil to its rightful place on Greek tables. Let us therefore hope that the olive crisis will be resolved this year.

Gosia,

2024-09-07 20:27:20

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Christian Arnidis - Moja Grecja

2024-09-07 18:56:50

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Predictions for this year's olive harvest

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