56% of it has increased compared to 2023 and 137% over the three years, but already in the wholesale market there are signs of de-escalation, according to an ERT report. “For a two-month period, a gradual reduction in the price at producer prices has begun from the historically high of 9.5 euros a kilo today we are at 7 euros”, stresses the President of the National Interprofessional Organization of Olive Oil, Manolis Giannoulis. Improved compared to last year’s production is expected. The problem the industry has to face is reducing consumption by 40%. “These conditions are likely to push prices further downwards,” explains Mr. Giannoulis.
The price of olive oil drops – Forecasts for the next months
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