Greek olive oil producers must keep eye on the competition

Greece is looking at a good year for olive oil, though experts warn producers need to take a closer look at the competition beyond traditional rivals Italy and Spain, but also at the market.

According to olive oil quality consultant Vasilis Fratzolas, “just 2.3% of packaged olive oil sold globally is Greek, while Turkey – a recent arrival to the game – holds a share of 2.5% and Tunisia 12.5%.”

Greece produces 225,000 tons of olive oil a year on average, of which only 45,000 tons is packaged. It also exports 80% of its production – unbranded and unlabeled – to Italy, which has been badly hit by pests. Drought-stricken Spain, meanwhile, is looking at a 50% drop in production.

“Germany and the UK do not produce olive oil but export it, which means that Greek olive oil is being moved around without being identified,” says Maria Katsouli, head of the Athena International Olive Oil Competition.