Greek Olive Oil Batch Sells at €7.85 Amid Market Adjustments
The 2025–26 olive oil season in Greece has officially started with the sale of the first batch of extra virgin olive oil at €7.85 per kilogram. This marked a notable drop from last year’s opening price of €10.20 per kilo. The sale, conducted by the Agioi Apostoloi Agricultural Olive Oil Cooperative in Laconia, involved two tanks totaling approximately 22 tons. The buyer was identified as a Greek processing company.
A Traditional Start to the Season
The Agioi Apostoloi Agricultural Olive Oil Cooperative is known for being the first to kick off both the harvest and sales season, with the initial olives being picked in late September. Reflecting on the challenges facing the industry, cooperative president Panagiotis Baskakis highlighted the financial pressures on producers. "As prices drop, it becomes increasingly difficult for farmers to cover production costs", he stated, emphasizing the importance of maintaining a producer price above €7 per kilogram to support sustainable cultivation.
In comparison, the cooperative sold 51 tons of olive oil to an Italian company at €10.20 per kilo in the prior season, while the 2023–24 season opened with a single tank sold at €9.25 per kilo.
Market Conditions and Quality Concerns
The decline in opening prices comes amid broader market fluctuations and challenges in olive cultivation. The quality of olives this season remains uncertain, as crops have been impacted by recent olive fruit fly infestations. The Koroneiki variety, which is the backbone of Greek olive oil production, will play a critical role in determining the overall outcome of the harvest. This season’s national production is estimated to range between 250,000 and 270,000 tons.
Meanwhile, global market dynamics also weigh on producers. According to the International Olive Council (IOC), global demand for olive oil remains strong, particularly from the U.S. However, producer prices in key markets like Greece and Spain have experienced significant declines. In July, prices in Chania, Greece, dropped to €380 per 100 kilograms, a 41% decrease compared to the previous year. Similarly, Spain’s Jaén region saw a 46% drop to €386.70 per 100 kilograms, while Italy’s Bari region reported a 19% price increase to €970 per 100 kilograms.
Early Indicators for the Season Ahead
The initial sale of olive oil by the Agioi Apostoloi Agricultural Olive Oil Cooperative offers an early glimpse into the potential trends for the season. However, with harvests still expanding across Greece’s major olive-producing regions, final pricing and market patterns will become clearer in the coming months.
As Greek farmers navigate these challenges, the focus remains on overcoming quality concerns and maintaining prices that ensure the viability of olive oil production in the face of shifting market conditions.