Greece’s 2026/27 olive oil crop could reach 300,000 tonnes

Greek olive oil production could reach up to 300,000 tonnes in 2026/27. Image source: Pixabay

Olive oil production in Greece 2026/27 could total up to 300,000 tonnes, according to an UkroAgroConsult report.

If achieved, the estimate would be the country’s largest output since 2022/23, when production exceeded 330,000 tonnes, the 6 October report said.

Good harvests were expected in the Peloponnese and Crete, with estimates that production in Messenia could exceed 60,000 tonnes, while output in Crete could be almost double last year’s 40,000 tonnes, due to improved weather conditions and sufficient rainfall, according to the report.

Meanwhile, producer prices remained under pressure, with carryover stocks from the previous harvest selling at around €3.40 (US$ 3.82)/litre in some regions, while new-crop extra virgin olive oil was expected to trade at around €4 (US$4.49)/litre.

According to Greek producers, profitability drops sharply when prices fall below €5 (US$5.61)/litre due to increased harvesting, fertiliser, irrigation and energy costs.

Significant carryover stocks also remained on the market, while demand from traders and large bottlers remained limited, UkroAgroConsult wrote.

Further price developments would be impacted by the harvest in Spain – the world’s leading olive oil producer – with a large Spanish crop potentially adding further pressure to the Greek market and limiting export demand for new-crop olive oil, according to the report.