Olive oil, an essential part of the Greek culture and cuisine, is becoming a luxury good because of skyrocketing prices, the president of one of Greece’s major olive producers’ union said Saturday.
The wholesale price of olive oil in Crete, one of the country’s biggest olive oil producing regions, is currently around €8.40 ($9) per liter, which means its retail price would be around €12 to €15 during the winter, Myron Chiletzakis, vice president of the Heraklion Agricultural Cooperative (EASH) told major broadcaster OpenTV.
Also speaking to public broadcaster ERT, he argued that 80% of the country’s olive oil production is exported and that is also behind skyrocketing prices domestically.—APP
