Why does Italy import large quantities of extra virgin olive oil from Greece?
Greece is the second largest supplier to the Italian olive oil industry, according to an analysis of the Italian olive oil sector conducted by the Economic and Commercial Affairs Office of the Greek Embassy in Milan.
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In 2021, over 75% of Greek olive oil exports went to Italy in bulk. This means that Greece supplied more than 111.000 tons of the 500.000 tons of olive oil that Italy imported, representing almost 22% of all of Italy's olive oil imports last year.
Italy's largest supplier is Spain, with a market share of 61,53%. Most olive oil producers in Greece choose to export their product in bulk to Italy at relatively low rates , sometimes even lower than the prices they charge to other countries.
Italian companies standardize it and sell it for more than double the price. At the same time, there are no Greek-branded olive oil products in Italian supermarkets. The value of Greek olive oil exports to Italy reached €345,5 million in 2021, a 16,33 percent increase compared to 2020.
Greek extra virgin olive oil arrives in Italy in bulk
One of the main reasons why producers choose bulk sales to Italy is that many Greeks produce olive oil themselves or have relatives who produce it and supply the oil in bulk.
Furthermore, most cooperatives focus primarily on selling bulk olive oil in Italy, according to market analysts. However, Greek producers and exporters do not reap the added value of branded olive oil.
According to the report, Italian importers typically pay less for Greek olive oil than for that produced in Italy . Historical data shows that up until 2020, 1 kg of imported Greek extra virgin olive oil cost Italian retailers less than €3, compared to around €3,70 for Italian olive oil.
Italians make mixtures
Medit Hellas, a company based in Patras, Greece, that exports unpackaged olive oil to Italy, says that Greek producers are dependent on Italian traders. Large Italian producers and bottlers largely dictate the decisions in the Greek olive oil sector.
Italy bottles 800,000 to 900,000 tons of olive oil each season. With the country's production ranging from 250.000 to 300.000 tons, they need much more olive oil, which they buy from other producing countries, including Greece and Spain, and always in bulk to make blends.
Only 30% of the olive oil bottled in Italy is exclusively of Italian origin
This is because the widely accepted high quality of Italian olive oil is fundamental to its success in global markets. Furthermore, the long-standing practice of Italian bottlers acquiring Greek olive oil and blending it has resulted in a type of blended olive oil. This blend is registered in the minds of consumers worldwide as a " Made in Italy " product.
This gives the world the false perception that Italian olive oil is of superior quality compared to neighboring Mediterranean countries. Greek branded olive oil is absent from the Italian market.
Furthermore, the labels on the bottles are not as informative and comprehensive as those on other food products, such as yogurt and feta cheese. Therefore, you cannot know the exact country of origin of the olive oil used in Italian blends.
Measures for Greek exporters
The analysis proposed a set of measures that Greek producers and exporters should take to penetrate the Italian market with branded olive oils. These include consistent participation in food fairs and olive oil competitions held in Italy and other relevant bodies.
We organize familiarization trips for Italian journalists and retailers. Additionally, we offer trips to mills and bottling facilities in Greece, and we invite food bloggers and influencers from Italy to tasting events.
However, considering that Italy has cultivated an image of itself as the world's leading exporter of high-quality olive oil, this would pose a significant risk. It could jeopardize Italy's reputation as a top-quality olive oil exporter , potentially leading to a decline in exports.
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Greek EVOO, the “liquid gold” of Greece
Greek olive oil is synonymous with Greek tradition, a healthy diet, and a rich history. The country's "liquid gold," as Homer called it, is an irreplaceable nutritional component for all Greeks. In fact, the ancient Greeks consumed olive oil for a long and healthy life, both as food and as an essential treatment for skin and hair.
Today, olives and olive oil are staples in Greek households, used in salads or as essential ingredients in much of Greek cuisine. Olive oil is an integral part of almost every popular Greek dish, from Greek salad to moussaka and tzatziki to spanakopita.
Over the centuries, it has become synonymous with Greece. The image of an olive tree or an olive grove represents Greece as much as the sunset over the Aegean Sea. Today, many consider Greek olive oil to be the best in the world . Extra virgin olive oil comprises at least 80% of olive oil production in Greece . In Crete, it accounts for nearly 90%.
Rich and aromatic, Greek olive oil is produced only from green olives. Its color, aroma, and flavor depend on the olive variety, the location, and the type of soil where it is grown. The environmental and climatic conditions in which the olive tree is cultivated are also important.
