Greek olive oil producers face rising labor costs and shortages

The Greek olive oil market is facing significant pressure due to rising labor costs and worker shortages. According to Manolis Giannoulis, president of the Interprofessional Olive Oil Organization, daily wages for workers are currently ranging between 60 and 80 euros, depending on productivity. These costs are described as “prohibitive” in relation to current market prices.

While producer prices are currently hovering around 3.70 to 4.20 euros per liter, retail prices on shelves are expected to reach approximately 8.50 euros per liter this year. The market is seeing a stabilization in quantities following two years of low production, which has helped moderate price fluctuations.

Greece's annual domestic consumption stands at approximately 100,000 tons. Of the total production, about 50,000 tons are exported in bulk, while the remainder consists of standardized products. As a globally traded commodity, Greek olive oil prices remain heavily influenced by international market trends.