`Greeks Call for Strategic Plan in Wake of Low Prices - Olive Oil Times

Greeks Call for Strategic Plan in Wake of Low Prices

Feb. 24, 2020
Costas Vasilopoulos

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The con­struc­tion of a strate­gic plan to tackle the prob­lem of low prices was pro­posed in a meet­ing between the Greek min­is­ter of agri­cul­ture, Makis Vorides, and the National Interprofessional Olive Oil Association of Greece (EDOE).

The two con­curred that the sur­plus of olive oil is respon­si­ble for the pre­vail­ing low prices, while pri­vate stor­age of exces­sive olive oil quan­ti­ties was seen as an inef­fi­cient rem­edy for Greece.

Everybody agrees that olive oil prices are affected by the high sup­ply, mostly due to the huge pro­duc­tion of Spain,” the min­istry’s press release said. Private stor­age is not the solu­tion and would not be effec­tive in the Greek mar­ket. Instead, it is nec­es­sary to apply mea­sures to enhance the com­pet­i­tive­ness and pro­duc­tiv­ity of the olive oil sec­tor and to enforce pro­mo­tional actions and sup­port the mar­ketabil­ity of Greek olive oil.”

As a con­se­quence, the min­istry of agri­cul­ture and EDOE agreed to start work­ing on a set of goals to pro­mote the sta­bil­ity of the sec­tor. The plan is expected to be reviewed in March.

Part of the plan is expected to be a mod­i­fi­ca­tion of leg­is­la­tion man­dat­ing that restau­ra­teurs serve only non-refill­able, sealed bot­tles of olive oil to seated cus­tomers.

The change in leg­is­la­tion makes it manda­tory that a non-refill­able bot­tle of branded olive oil will be present on the tables at restau­rants,” Giorgos Economou, the exec­u­tive direc­tor of SEVITEL, the asso­ci­a­tion of Greek olive oil bot­tlers, said.

Eateries cur­rently absorb around 10,000 tons of olive oil. With only bot­tled olive oil on tables, we esti­mate that a quan­tity of 4,000 tons will be con­sumed that can poten­tially increase if the mea­sure is imple­mented,” Economou added.

The mea­sure of sealed, non-refill­able bot­tles, was intro­duced in 2018 to pre­vent restau­rants and tav­erns from serv­ing bulk olive oil, how­ever its adop­tion is spotty and largely unen­forced.


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