Europe
While still early in the season, the olive harvest has begun in Greece with a kilogram of fresh extra virgin olive oil faring well above €3.00 ($3.55), confirming the recent projections for better prices in the beginning of the season.
In the Argolida region of the Peloponnese, an Italian trader paid €3.80 ($4.49) per kilo for 30 tons of extra virgin olive oil with acidity below 0.3 percent and polyphenol content exceeding 500mg per kilogram.
Another similar transaction was imminent, Konstantinos Mellos, the head of the local olive oil association Thermasia Dimitra, told Ypaithros Ηora newspaper, attributing the substantial price to the high polyphenols of the batch.
See Also:The Best Greek Olive OilsThe same price tag of €3.80 ($4.49) per kilo was fetched for the first production of extra virgin olive oil by the Apostles Agricultural Association in Laconia, in the first transaction of the season at this price level.
Last year’s extra virgin olive oil of Laconia, on the other hand, that has retained its organoleptic characteristics and low acidity level, currently sells for €2.75 ($3.25) to €2.80 ($3.31) per kilogram.
In Messinia, the first small quantities of EVOO produced were marketed for €2.90 ($3.43) to €3.00 ($3.55) per kilo, with the season’s price level expected to be shaped in the coming weeks.
“There is no certain offer yet to be able to determine the season’s prices,” Giorgos Kokkinos, the head of the Nileas group of Messinian producers, said.
In Crete, where the harvest has been delayed by recent heavy rains, the first olive oils made in the Messara area near Heraklion fared between €3.30 ($3.90) and €3.50 ($4.14) per kilogram.
See Also:2020 Olive Harvest UpdatesThe 2020 olive harvest in Greece, meanwhile, has been hampered by the continuing coronavirus pandemic.
Foreign workers are scarce in many olive oil making territories of the country. Those who are available are required to demonstrate a negative Covid-19 test result before working in the fields, with growers charged with the responsibility for their testing.
Some growers who had initiated the process to hire workers from abroad and had paid the required administrative fee of €100 ($129) per laborer, were disappointed to see some laborers not arriving due to Covid-related travel restrictions.
Consequently, part of their crop remained unharvested with the producers unsure whether the state would reimburse the fee amount.
More articles on: 2020 olive harvest, Greece, olive oil prices
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.
Feb. 10, 2023
From Andalusia to Madrid, Spain Shocked at Wave of Olive Thefts
The soaring price of olives and olive oil has led to an epidemic of fruit thefts and damage to groves across Spain.
Jan. 24, 2023
Albanian Producers Struggle with Low Prices
While Albanian farmers enjoyed a bountiful harvest, low prices on the internal market and challenging logistics are causing concern.
Dec. 12, 2022
Producers in Israel Reap Benefits of Record Harvest
Despite rising production costs and persistent challenges from imports, Israeli olive oil producers anticipate a bumper harvest and improved market share.
Aug. 2, 2023
Extra Virgin Olive Oil Prices Could Reach €11/Kg in Italy, Officials Warn
A poor harvest in 2023 combined with low olive oil stocks and anticipation of a modestly higher harvest in 2024 has seen Italian olive oil prices reach unprecedented heights.
Feb. 4, 2023
Catalonian Producers Warn of Worst Season in 15 Years
Catalonian producers warn that olive oil production in the region will be even lower than previously expected and that major price increases may ensue as a result.
Jan. 5, 2023
Olive oil prices at origin are mounting in Spain. Extra virgin olive oils, in particular, are showing record-breaking week-by-week increases.
Nov. 27, 2023
High Olive Oil Prices in Spain Spur Interest in Black Friday Discounts
While prices at origin have dipped slightly, they remain elevated in stores, prompting concern among retailers over theft and consumers over fraud.