European cooperatives are reportedly confirming significantly lower olive oil production in Spain and Italy – the world’s number one and two producers, respectively – while production in Greece (number three) is expected to increase both in quantity and quality for the 2022-23 season.
The projection for Greece is an increase in production by 29 percent compared to last year, which yielded 227,000 tons of olive oil.
According to current forecasts by Copa-Cogeca, the total olive oil production in the EU will reach 1.5 billion tons, which translates into a reduction of 35 percent compared to the 2021-22 season. A 30-percent drop in table olive production is forecast for this year as well, EU wide.
The reduction is primarily due to drought and high temperatures in Spain, with even irrigated areas affected, and only rainfall next month viewed as way to salvage the season.
Lower crop yields are also expected in Italy, Portugal and France, with a 30-percent reduction in the former.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
