Hike in price of olive oil due to lower production, Agriculture Min Arachovitis says

Greece has benefited, mostly in terms of being able to command a higher price for its olive oil, from the fact that Italy cannot cover its needs in olive oil due to natural disasters and is having to import, Agriculture Minsiter Stavros Arachovitis said on Wednesday at Heraklion, Crete.

As he stated to the Athens-Macedonian News Agency, despite the fact that the yield from Greece’s harvest was also lower this year, developments in Italy have pushed the price upwards. Already in some areas, such as Lakonia, the price of extra virgin olive oil has exceeded 3.6 to 3.65 euros per litre, he said.

“Italy can import from EU member-states, such as Greece,” the minister pointed out, but cannot import from third countries “beyond what has been agreed, a symbolic quantity mostly to support other countries as Tunisia, but this quantity is pre-agreed and small.”

Referring to the new year, Arachovitis expressed his optimism that it will be good for the olive harvest and olive oil production.