The olive oil scientific society FILAIOS will be hosting a conference at the Athens Chamber of Commerce and Industry, at 5:00 PM tomorrow (November 16th, 2017).
The olive oil scientific society FILAIOS will be hosting a conference with subject “Financial Tools, Investment Possibilities and Promotional Opportunities in the Olive Sector” at the Athens Chamber of Commerce and Industry, at 5:00 PM tomorrow (November 16th, 2017).
We are a country with a surplus in olive oil production. We produce 50 percent more than our internal needs every year, therefore it must find a way out to other countries.- Panagiotis Karantonis, SEVITEL
Along with another meeting on olive oil in the foodservice industry, the events are being conducted as part of the “Olive Oil Day” celebrations.
The topics to be presented at the conference are:
Panagiotis Karantonis, the deputy director of SEVITEL made the following statement on the need to improve the positioning of Greek olive oils in the global market:
“We are a country with a surplus in olive oil production. We produce 50 percent more than our internal needs every year, therefore it must find a way out to other countries.
Until now, this way was found by in-bulk exports to Italy, but this is an unstable balance of the market, firstly, because this way Italians control the Greek market and the prices of the producers and second, new markets are gradually developed from which they can supply bulk olive oil.
For example, Spain and Tunisia are two competitive countries for Greece, at least in volumes, with large production abilities, especially Spain which is the largest olive oil producer globally with 2 million tons per year and Tunisia with significant investments in the olives and olive oil sector. Both of them have an advantage against Greece in production costs.
To face this disadvantage, we must improve and promote our quality, in order to obtain a larger market share in the global market for the standardized product.
Considering the countries that do not produce but only consume olive oil, like the northern European countries, Canada, Japan, Russia and countries that produce less than they consume, therefore they import olive oil like the USA, these markets are estimated to be consuming more than 700,000 tons of standardized olive oil annually.
In this market, we are claiming a share that, if it reaches 10 to 15 percent, we will add up to 100,000 tons of standardized olive oil per year. Then, the dependence from the Italian market and conditions in the global olive oil production will enable us to invest in a safer future.
If we don’t improve our global market share, we will have to face huge surplus during periods of large productions in Spain and Tunisia that will nail our prices, like we saw over the last years when the price for extra virgin olive oil dropped below €2, because of Spain’s large production that reached 1.8 million tons. For Greece, quality is the safety net we can provide for the future of the product.”
More details about the schedule of the conference can be found here.
More articles on: conferences, Greece, greek olive oil
Jul. 6, 2023
This Small but Mighty Producer Takes a Traditional Cretan Variety to New Heights
Award-winning Silvergreen elevates the products of Crete via the Tsounati, a delicate but rewarding olive variety native to the Greek island.
Jul. 13, 2023
Istrian Officials Share Oleotourism Insights at Events in Spain and Italy
According to Istrian tourism officials, 190,000 people visit olive growers and producers on the peninsula each year. Now, these officials are sharing strategies in Spain and Italy.
Mar. 2, 2023
Olive Oil Consumption in Italy, Greece Expected to Grow Amid Global Decline
Despite rising prices, lower production and the impacts of inflation, olive oil consumption in Italy and Greece is expected to rise, bucking the global trend.
Jul. 26, 2023
Mediterranean Diet Associated with Successful Aging, Study Finds
Researchers found that Greeks who followed the Mediterranean diet were healthier and more active as they aged than those who followed the diet less closely.
Jan. 11, 2023
Greece’s New CAP Plan Approved By European Commission
The E.U. will release more than €13 billion from 2023-2027 to back the Greek agricultural sector. However, new provisions in the policy are alarming some farmers.
Nov. 30, 2022
Greek Prime Minister Pledges to Restore Amfissa Olive Grove
Konstantinos Mitsotakis said that 60,000 olive trees will be planted in Amfissa. New initiatives are being planned to add value to its olives and olive oil.
Dec. 29, 2022
Olive Oil is the Essence of Traditional Greek Dishes on Christmas Eve
Olive oil is an essential cooking ingredient in Greek cuisine all year round, and the Christmas season is no exception.
Oct. 31, 2022
In Greece, Millers Call for Subsidies to Soften Impact of Rising Costs
Olive oil mill owners want the same energy subsidies given to bakers and bread manufacturers to cover the cost of rising energy bills.