Newsroom
Estimates from Greece suggest a promising outlook for olive oil production this year, with anticipation building for a potentially fruitful harvest, although definitive conclusions remain pending for about a month.
Manolis Giannoulis, the president of the National Interprofessional Olive Oil Organization, shared insights with the Athens-Macedonian News Agency, highlighting the current flowering period as a crucial stage. "At the moment, we are in the flowering period and after about a month, they will be bearing fruit. All this under the condition that everything will develop normally," Giannoulis stated.
While concrete figures are yet to be finalized, there's a growing sense of optimism regarding this year's harvest compared to the previous season. Last year saw estimates ranging between 130,000 to 150,000 tons, marking a record low. Recent developments also indicate a decline in producer prices, although this adjustment hasn't yet translated fully to retail prices.
Giannoulis noted a reduction of 1 to 1.30 euros per liter in producer prices, which is expected to gradually influence supermarket prices. Presently, extra virgin olive oil is being traded by producers for €7.80 to €8.20 per liter, compared to €9.30 to €9.50 per liter just a month ago.
As the olive trees progress through their growth stages, stakeholders in Greece's olive oil industry remain cautiously optimistic, eagerly awaiting the upcoming harvest season to confirm their expectations.
