Precision farming practices have helped Greek extra virgin olive oil growers keep overhead cost low and ultimately ‘save’ the product from mounting pressure on its market price, EURACTIV Greece’s media partner Ypaithros Chora reported.
In a report, the newspaper, which specialises in agricultural issues, said precision farming has managed to significantly decrease production costs especially in the olive oil sector in Greece, while simultaneously increase the quality of the product.
Greece’s olive oil sector has been under pressure due to the low price on the market. The sector says the price is disproportionally low compared to the quality of the product.
Spanish farming association Unión de Uniones (UDU) recently complained that the price of extra virgin olive oil is considerably higher in Italy (€469.8 per 100 kilos) than in Spain (€221.1 per 100 kilos) or in Greece (€260.1 per 100 kilos).
In September, the Spanish press reported that the association would ask the Commission to investigate potential disruption in the olive oil market, hinting that Italy was enjoying a more favourable treatment in comparison to other producers like Spain and Greece.
Read more: euractiv