Greece has been hit by a series of thefts of olive oil, as commodity prices soared due to a poor harvest in the country, as reported by The Guardian.
In one attack, thieves stole 37 tons of olive oil, worth more than €300,000 (US$ 315,916), from the Polygyros olive oil cooperative in Halkidiki, as reported on October 14.
A separate incident allegedly involved the theft of more than 100 kg of olive oil of plastic barrels in Messinia.
“We are talking about a very big deal,” said Manolis Yiannoulis, head of EDOE, Greece’s olive oil industry association.
Last year, due to low yields, olive oil prices increased by 200%, which resulted in the opportunity to earn a lot of money.
Record commodity prices definitely played a role in the thefts, according to Yiannoulis, whose organization represents all sectors of the industry, from packers to growers.
The prospect of another bad harvest did not alleviate the situation, as reported by The Guardian.
Olive oil shortage raises concerns in Greece due to climate change
The week before the report, they quoted Yiannis Iliadis, a producer in the region, as saying that olive mills had taken security measures, but the concern was that thieves might target the olive trees next.
“There have been cases of fruit being stolen from orchards at night,” he added.
Climate change has also intensified fears of a serious olive oil shortage in Greece, according to the report.
“We are seeing Greek production rates being cut in half this year,” said EDOE’s Yiannoulis. “The imbalance in demand and supply is behind the large price increases.
Greece is the third largest producer of olive oil in the world, after Spain and Italy.
Source: Oils & Fats International
