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Greek olive oil expected to keep high prices due to Italy's reduced production Written by Monday, 14 November 2016
Greek olive oil expected to keep high prices due to Italy's reduced production
According to experts, interest for Greek olive oil will be boosted this year due to reduction in Italy's production

It seems that this year the Greek olive oil will be sought after, as Italy's production is expected to be reduced. Experts say that Greek olive oil production will obtain relatively high prices this year in international markets, as it is considered one of the top quality products worldwide.

Greece, after two years with output of over 300,000 tons, expects a relatively reduced production, with estimates so far in the range of 240,000-250,000 tons. These news are expected to result in a boost in producer prices, with the first transactions made at price levels above 3 per kilo.

In fact, in the last oil sales auctions in Laconia, Peloponnese, Greece, values ​​ranged from 3.18 to 3.30 euro per kilo.