Friday, May 20, 2022

Uncertainty about the greek Olive Oil

As November is on its way and the yield at its peak, the orginally good impression about the olive oil production seems to gloom because of several problems

As for the total greek olive oil production, probably the initial prediction for 195000-200000 tones should be reconsidered, since it is expected to fall at about 190000-200000 tones

The performance of the oil mills seem to be satisfactory, in cases that the olive fruit is well matured, but seem to be reduced in cases that the oil producers hasten to collect premature olives, either because the prices are in relatively high levels or/and because they are in need of cash flow due to economic pressure

The most serious problems come from the ldquofrontrdquo of quality, given the fact that in many areas there are registered intense attacks by the olive fruit fly while Western Greece suffers from Gloeosporium olivarum and other fungi

For the European olive cultivation 2016 is a year of high prices, where EVOs of good quality reach prices such as 5,50 euro/kg in Italy and 3,70 euro/kg in Spain, always regarding the fresh olive oil of the 2016/17 campaign

Under these conditions, the prices in Greece oscillate in satisfactory levels according to the producers#39 standards

The known variety of Athinelia South Lakonia, Peloponnese, that every year is in high demand in Italy because itrsquos premature and can improve even defective olive oils, started this year with 4,40 euro/kg collapsed temporarily to 4,0 euro/kg and then came back again in the original levels Added to this price should be +0,20 euro/kg for CIF delivery Italy

While good EVOs from other areas Koroneiki variety with acidity lower than 0,4ο started at about 3,20 euro/kg producersrsquo price, they climbed up to 3,60 euro/kg, and a relevant markup for ex-factory prices and even more for CIF delivery Italy

Therefore, the landscape seems extremely uncertain in terms of these prices#39 duration and the final outcome

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