The downward trends that occurred at the end of March – beginning of April, causing producers to worry about their continuation, seem to have been stopped by the producers’ refusal to sell at the lowest prices offered to them.
Thus, the market, which has been frozen for weeks, still maintains its very low mobility with the percentage of olive mills that do not buy or do not respond to the SEDIK Price Bulletin reaching up to 75% in Crete and 45% in the Peloponnese, a fact that seems to be caused by resistance from both sides.
Buyers do not appear to be risk-averse by offering high prices in the hope that a good flowering development will cause producers to fear falling prices and result in reduced price purchases.
On the other hand, the producers, who do not have significant quantities, are still keeping them, as they say, for their families, while the producers with large quantities available, which are certainly few, are obviously thinking about the possibility of a drop in prices, but towards currently they do not accept lower prices!
Finally, as we have written before and this is also reproduced by other media, this period will be strongly influenced by the final percentage of the fruit set both here and in Spain. And this, of course, will strongly depend on the possible rains, or heat waves that would follow.
The unlikely rains, if they come, will affect the production for the better, while the possible heat waves will affect the production for the worse! And of course the reverse will be the evolution of prices!
Prices in the main olive producing countries
Finally, based on the prices given by the few who responded to the SEDIK Bulletin, and the data we derive from international authoritative sites, the levels of producer prices for extra virgins, internationally, are presented on April 23 as follows (Table 1):
-In Greece, the prices of extra for the week of April 23 ranged from €6.50 to €8.90/kg and were structured by region as follows:
-In Crete, they ranged between €7.20-8.90/kg, in the Peloponnese between €7.0-8.55/kg. while on the islands between 6.50 to 7.50 €/m
-In Spain, they were maintained at approximately the same levels and finally ranged between €6.92/kg – €9.00/kg.
-In Italy they showed a slight drop and ranged between €8.0 and €9.50/kg
– In Tunisia they remained at the same levels and fluctuated at €7.85/m
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