The general secretary of the Unified Agricultural Association of Ierapetra, Michalis Viannitakis, expressed the assessment that olive oil prices will not decrease this year, as there will be pressure on the quantities that will be available for sale to the consumer, speaking to Naftemporiki TV and the Rush Hour show with Takis Spiliopoulos.
Viannitakis highlighted that in an average year in the Ierapetra area, around 500 tons of olive oil can be produced in just one cooperative. Last year, as highlighted, production was 200 tons, that is, around 70% below. “This year it is expected to be around 250 tons, that is, a little better than last year, but still half of an average year”, he added.
In this context, Mr. Viannitakis said that this year too there will be pressure on the quantities of olive oil that will be available for sale to consumers, at the same time that he was pessimistic that efforts to significantly reduce the price will bear fruit.
Water scarcity, labor costs and shelf price estimation
Mr. Viannitakis mentioned that the lack of water has caused many problems, but in addition to the drought, he noted that there are other factors, such as labor costs, that drive up the price. As an indication, he said that “the cost of labor in 2022 was around 30 euros, while in 2024 the daily wage should go to 70 and 75 euros”.
“If we want to continue the production of olive oil in Greece, it is inevitable to support the Greek farmer”, he noted and added: “If we take into account that olive oil does not belong to the category of purely perishable agricultural products, such as vegetables, we consider that the final price should reach 50% above what the producer can achieve.”
When asked if this price should be 10 to 12 euros per kilo, he said that «then I think the entire chain is covered, so that the consumer can also buy, because producing olive oil will reach a price that the consumer benefits» If we cannot Buying it doesn’t make sense.”
He also noted that we all understand the nutritional value of extra virgin olive oil and some other categories, so, as he highlighted, there can be no substitute under any circumstances. “But mainly what we should keep in mind is that our eating habits have been based in Greece on olive oil,” he said, while highlighting that “I think it is very difficult for the Greek consumer to remove olive oil from their daily life and this will last for many years.”