Markets Economy | Olive oil

Bears and Tigers

Vassilis Zampounis
Sitting bears (=idleness, lack of demand, low prices) prevail in the Greek olive oil market rather than aggressive tigers (=high demand in high prices), as trading terminology would put it. This phenomenon is not only Greek but also general (with the exception of Italy).

However, in Laconia several transactions are being made for very good olive oils (premium, 0.3° acidity), at prices that have won approximately 5-10 cents. Crete also shows mobility towards these good qualities.

This year the problem is that nationally these qualities are hard to find; they are maybe less than 20% of the whole production. That is the reason why the wider area of Messinia constitutes this year a classic case of a “sitting bear” in comparison with last year’s 2017/18 excellent qualities.

On a last note, the lampante market shows vividness. In Lesvos lampante oils exceed even 2€ (base 5° acidity).

Visitors' comments

  • | Lisa Radinovsky (Greek Liquid Gold)
    That is disappointing news for Greece overall, although Laconia and Crete seem to offer some small bright spots--which I hope will turn up more in other areas as well, as some of my contacts have suggested. However, it is news, so I linked to it on the news page of Greek Liquid Gold.

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