The 2025–26 olive oil season in Greece began with the first batch of extra virgin olive oil sold at €7.85 per kilogram, marking a decrease 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 a Greek processing company.
The cooperative traditionally leads both the harvest and sales season, with the first olives picked in late September. Cooperative president Panagiotis Baskakis emphasized the importance of maintaining a producer price above €7 per kilo to ensure cultivation remains viable. “As prices drop, it becomes increasingly difficult for farmers to cover production costs,” he noted.
In comparison, the same cooperative sold 51 tons to an Italian company at €10.20 per kilo last year, and in the 2023–24 season, the first commercial transaction was for a single tank at €9.25 per kilo.
The outlook for the current season remains uncertain. The quality of the olives, affected by recent olive fruit fly infestations, will largely determine prices. Greece’s main olive variety, Koroneiki, will be central to the production, which is estimated at 250,000–270,000 tons nationwide.
For context, Spain is expected to produce 1.3–1.4 million tons, while Italy forecasts around 300,000 tons. According to the International Olive Council (IOC), global demand, particularly from the U.S., remains strong, but producer prices in Greece and Spain have been under pressure. In Chania, Greece, prices fell to €380 per 100 kg in July, down 41% from 2024, while in Spain (Jaén), prices dropped 46% to €386.70 per 100 kg. In contrast, Italy (Bari) saw a 19% increase to €970 per 100 kg.
The first auction provides an early indicator for the season, but final prices and market trends will become clearer as harvests expand across all major olive-producing regions in Greece.
Source: tovima.com
