Tuesday, February 27, 2024

Milestone in Olive Oil History: Auctioning “extrissimo” at €10.11/kg

Nestled within the serene village “Paleopanagia”* close to Sparta (the capital of Lakonia), the Paleopanagia agricultural cooperative stands as a testament to tradition and quality in the heart of Greece. With a population of merely 576 residents and situated at an elevation of 270 meters, this cooperative’s significance transcends its small size, drawing attention from both locals and olive oil enthusiasts worldwide.

A momentous occasion unfolded yesterday as the cooperative celebrated a remarkable milestone. The fervent buzz encircling this humble enclave escalated as they entered the prestigious arena of an auction, offering a coveted tank of “extrissimo” olive oil. The price tag attached to this liquid gold was an unprecedented €10.11 per kilogram, plus VAT—a figure that shattered previous records, not just for the year 2023 but throughout history. The resounding success of this auction underscores the uncharted potential within the olive oil market, whose trajectory remains as enigmatic as ever.

The beneficiary of this exceptional offering was none other than AGROVIM, a venerable company headquartered in Kalamata. Renowned for its storied heritage and unwavering commitment to exporting exceptionally high-quality extra virgin olive oil, AGROVIM emerged victorious, albeit lighter in the pocket, having disbursed a substantial sum of €303,300.

However, amidst the exuberance of this momentous transaction lies a pertinent query: who among the privileged few possesses the means to indulge in such culinary opulence, adorning their dishes with this unparalleled delicacy?

*“Paleopanagia” translates to “Old Panagia” in English. “Panagia” is a Greek term often used to refer to the Virgin Mary in Orthodox Christianity. The prefix “paleo” signifies age or antiquity, indicating that the place or entity named “Paleopanagia” is of historical or ancient significance.

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