Greek olive oil prices drop as new season begins

The Greek olive oil market for the 2026-2027 season has opened with a significant decline in prices. The first commercial transaction of the new period took place at the Agricultural Cooperative of Agioi Apostoloi in Laconia, where 55 tons of extra virgin olive oil were sold to an Italian company for 5.95 euros per kilogram. This price represents a 24% decrease compared to the 2025-2026 season and a 41.7% drop compared to 2024.

In addition to falling prices, producers in Laconia and Messenia are facing low yields, with oil extraction rates estimated between 6% and 11%. This is a notable decrease from previous years when yields were often above 13% or 18%. Local officials attribute the lower yields to heavy winter rainfall and a prolonged spring season.

The downward trend in pricing is also reflected across the Mediterranean. European Commission data indicates that extra virgin olive oil prices have fallen in major producing countries, including Spain and Italy. This marks the fourth consecutive difficult year for the olive oil sector, raising concerns that high production costs and declining income may force many producers to abandon the profession.