Greek Olive Oil Season Opens at Lower Price Amid Cost Pressures

The new olive oil season in Greece has begun with a modest opening deal, signaling a challenging period for domestic producers. A batch of 55 tons of extra virgin olive oil was sold for 5.95 euros per kilogram, a significant drop from the 7.85 euros recorded at the start of the 2025-26 season and the 10.20 euros at the opening of the 2024-25 season. The transaction involved the Agioi Apostoloi Agricultural Olive Oil Cooperative in Laconia and two companies, one Greek and one Italian, with the latter securing the deal.

The lower price reflects a tough environment for Greek olive producers, who are grappling with higher production costs and reduced market prices. While the opening price may cover early harvesting expenses, producers view it as insufficient given the overall costs of bringing the crop to market. Meanwhile, olive oil from the previous harvest is trading at a much lower range of 3.40 to 3.75 euros per kilogram.

Greek olive oil production for this season is estimated between 280,000 and 330,000 tons, with a central estimate of around 300,000 tons. The international market will also play a key role, with total Mediterranean production expected to reach 3 million to 3.2 million tons. Spain, in particular, is forecast to produce about 1.6 million tons, a 23% increase from the previous season.

The combination of higher international supply and weaker prices suggests that the Greek market is entering the new season from a substantially lower base. Producers are now watching to see whether the 5.95 euros per kilogram will set the benchmark for the coming months or if higher prices will emerge as the harvest progresses.