Stocks are at a historic low – Production in Chania has decreased by up to 80%
With a starting price for the wholesale at 9.25 euros per liter, Laconian olive oil began to be sold, which is estimated that by the time it reaches the consumer’s table, it may reach close to 20 euros per liter or even surpass it.
The price has doubled this year, as from 4 to 4.50 euros per liter last year, it reached 9.25 euros per liter this year and the new increase in the wholesale price is sure to be passed on to retail again, but if there is oil, since the issue of adequacy is a big one. Olive oil is now in demand and wholesalers wherever they find it, “hit” it at high prices, to ensure quantity. In Laconia, the Italians displaced five competitors, in order to take the olive oil that has been produced.
Historic low for olive oil stocks
The big shock and drama for the consumer is that we have a record low for oil stocks and this will make the already very expensive olive oil even more expensive. But there is also the other side, which says that consumption has fallen due to the very expensive prices, and since consumption has fallen, it is possible that the quantity will eventually reach, but always at an expensive price.
Things are bad in Crete, where production in Chania has decreased by 80% compared to last year.
