Greek Olive Oil Production Set for Rebound Amid Price Concerns

Greek olive oil production is set for a strong rebound in the 2026/27 crop year following a disappointing previous season. Industry estimates suggest the national yield could reach around 300,000 tons, marking the largest harvest since 2022/23 when Greece produced over 330,000 metric tons. The optimism is driven by healthy olive trees in regions like the southern Peloponnese, where mill owner Nikolaos Souretis anticipates a bumper harvest in Kyparissia.

However, low prices at origin, currently around €3.40 per liter for carried-over stocks and expected to hover near €4 per liter for the new harvest, are tempering the optimism. Giorgos Kokkinos of the Nileas association warns that abundant Spanish production could further pressure prices by reducing demand for Greek olive oil. In Laconia, Panagiotis Batzakis fears that if prices stay below €5 per liter, many olive groves may be abandoned due to rising production costs.

Despite high yields forecasted for Crete and Lesbos, challenges persist. On Lesbos, heat stress has reduced expected yields by half, while on Crete, drought recovery has improved prospects, with production potentially doubling last year’s 40,000-ton yield. Kostis Kekerides of the Zakros cooperative notes that while exports under the Sitia PDO label are promising, bulk sales dominate due to market constraints.

Not all regions share the optimism. In Stylida, central Greece, producers protest low prices and inadequate pest control measures, warning that incomes are decreasing and farming may become unsustainable. The joint announcement from local associations highlights the struggle to cover production costs, emphasizing the urgent need for a guaranteed minimum olive oil price.