Low prices and weak harvest deepen crisis in Greece’s olive oil sector

Greece’s olive oil sector is facing growing uncertainty after the completion of the 2025/26 harvest season. A weak crop of less than 200,000 tons combined with falling wholesale prices has forced many producers to delay sales while waiting for market conditions to improve.

In key producing regions such as Crete and the Peloponnese, extra virgin olive oil prices are currently around 30% lower than a year ago. Producer prices range between €4.5 and €5.4 per kilogram, significantly reducing farmers’ profitability amid rising production costs.

The situation has been worsened by poor harvest results. In some regions, olive oil production dropped by nearly 40% due to unfavorable weather, prolonged rainfall, fungal infections, and pest outbreaks. On Crete alone, production declined to 45,000–50,000 tons compared to about 78,000 tons in the previous season.

Additional pressure on the market comes from cheaper olive oil imports from Tunisia. Some Greek producers, along with Spanish farmers, argue that increasing imports from North Africa are depressing EU prices and creating concerns over product traceability and fair competition.

Despite the difficult season, growers remain cautiously optimistic about the next harvest. Olive trees are currently showing strong flowering in many regions, and favorable weather conditions could support a much better 2026/27 crop. However, producers stress that the industry still needs more stable prices and stronger support to remain competitive.