Crete tourist guide

Good year for Greek olive producers

2022-11-26 20:23:48

November 26 is World Olive Tree Day, and the olive tree is the most associated with Crete. Olive groves are almost everywhere, and what is interesting on the island, in addition to relatively young trees, you will also find those that grow here even several thousand years. In addition, despite such an old age, they are still in good condition and still bear fruit. It is unimaginable what times these trees remember.

Liquid gold, i.e. olive oil produced by local farmers, is the main export product of the island. It is also an indispensable product in every kitchen. Cretan olive oil has been gaining more and more popularity abroad for several years and is becoming known to consumers as one of the best oils in the world. The excellent parameters that local producers are able to obtain translate into the unique taste of the oil as well as its health properties.

Recent years, however, have not been very kind to oil producers in Crete. Numerous diseases affecting the olive trees and exceptionally unfavorable weather conditions year after year caused severe losses in oil production. However, 2022 promises to be one of the best years in the last ten years in terms of production, yields and producer prices. It is already referred to as the golden year, despite unfavorable circumstances such as rising energy prices, global inflation or problems with finding a workforce.

This year, the increase in the popularity of Greek olive oil is also favored by external circumstances. Spain, which belongs to the palm of priority when it comes to the volume of olive oil production, in 2022 will probably have the worst harvest in a decade due to drought. Cautious forecasts estimate a decline in Spanish olive oil production of 28% compared to the previous season. However, the most pessimistic forecasts say even a 50% decrease. Other Mediterranean countries, with the exception of Turkey, also see a significant reduction in oil production.

As a result, the interest in Greek, and especially Cretan, oil is huge, and its prices have started to rise. Sample prices in the Peloponnese for extra virgin olive oil with an acidity of 0.3 range between EUR 4.2 and EUR 4.9 per kilogram, although there are also producers selling olive oil for EUR 5.2 per kilogram. In Crete, where olive oil has been very cheap so far, prices oscillate between 4.3 and 4.5 €. Representatives of companies from Spain and Italy are currently staying in various regions of the island and establishing business contacts. They have to ensure the right amount of olive oil in their countries.

While the high production of olive oil in Spain has ensured its self-sufficiency so far, in the case of Italy, Greek olive oil has been regularly on the tables there for many years. Although the Italians are in the top three of the world's producers of olive oil, they willingly reach for Greek and Spanish products. So far, the largest supplier of olive oil to Italy has been Spain. Last year, the value of Spanish exports amounted to EUR 898.35 million. Greece is the second largest supplier of olive oil to Italy. According to the latest available data, in 2021, nearly 2/3 of the value of the total export of Greek olive oil and over 75% of the total volume went to the Italian market.

Currently, about 25% of the olives have been harvested in Crete, and the main harvest is just beginning. Estimates assume that this season production will reach 100,000 tons of oil, which means a 20% increase compared to recent years. In addition, favorable circumstances will finally allow producers to obtain exceptionally good parameters of the oil. It is highly probable that this year's season will end with a record not only in terms of the amount of production, but also record prices and quality of oil.

At the same time, the Greek government is trying to make it easier for farmers to hire foreign workers. One of the greatest ills of farmers is the lack of hands for this hard work. After the current changes to the regulations, workers employed to help with agricultural work will be able to stay in Greece for a total of up to 6 months.

Gosia,  2022-11-26 20:23:48

Średnia: NAN

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Elly Mak

2022-11-26 20:07:29

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