Greek Olive Oil Prices Remain Flat Despite Rising Production Costs

Saturday, 16 May 2026/Source: CretaOne/1 min read

Olive oil prices across Crete and mainland Greece remain stubbornly flat, despite rising production costs that have strained local farmers. Producers expected prices to climb this season given higher expenses for labor, fuel, and equipment, but market rates have not followed. Industry observers attribute the stagnation to soft export demand and increased competition from other Mediterranean producers. For visitors, this has a practical upside: retail prices for Cretan extra virgin olive oil in shops and markets are holding steady, making it an affordable and worthwhile souvenir. Crete produces some of Greece's finest olive oil, particularly from the Koroneiki variety cultivated across the Heraklion, Rethymno, and Lasithi regions. Local producers sell directly at farm shops and weekly markets, often at better value than supermarkets. Quality remains high regardless of the price pressure farmers are facing.