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Olive oil turns into a "luxury" product / States where prices changed drastically. Albania was also affected

2024-02-13 22:54:00, Ekonomi CNA

Olive oil turns into a "luxury" product / States where prices changed

Olive oil during the past year could actually be considered a luxury product as its price "flew" in many countries of the world due to the drop in production due to drought. Specifically, the country that experienced the greatest increase in this product was Turkey with 264% as one of the main producers, followed by Greece where the price increased by 58.5%, followed by Tunisia with an increase of 48%.

Olive oil also became more expensive in Spain and Italy during 2023, in the two countries that occupy the largest share in the world for production, respectively by 40 and 34%.

Olive oil turns into a "luxury" product / States where prices changed

Albania did not escape this growth wave because a significant amount produced in 2022 was exported to Italy and in 2023 the production was lower.

Thus, if in 2022, due to overproduction, olive oil managed to be traded at an average of 500 ALL per liter, in 2023 it returned to the previous conditions, reaching the value of 750-800 ALL per liter, with an increase of 37.5%. However, for Albanian consumers this price change was not unusual because this has been the average selling price in each year, and 2022 was considered exceptional.

In 2022, olive production increased by 39%, being recorded at 152 thousand tons. While almost 5 thousand tons of olive oil were exported only in the first half of 2023. In our country for the year 2023-2024, 16 thousand tons were produced, ranking 16th among 30 producing countries./ SCAN TV





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