Cretan Olive Oil Sells For €1,020 per Liter at Dutch Auction

This half-liter bottle of olive oil was sold for €510. Photo by ProtoThema

A 500-ml (one-half a quart) bottle  of Cretan extra virgin olive oil was sold recently for the extraordinary sum of €510 ($580), a price equivalent to €1,020 ($1,160) per liter. The pricey product was made from the ancient olive trees of the region of Ierapetra on the island of Crete and was put up for auction in the Netherlands.

The olive oil was produced by the Eptastiktos co-operative of Crete and was presented in the auction by the people of the company as a homage to Paul Cooper of the Netherlands. Cooper is considered to be an integral figure in the development of the agricultural economy of eastern Crete, introducing innovative cultivation techniques for the ancient crop.

This year, Cretan extra virgin olive oil is expected to demand very high prices due to the very low production of olive oil because of extreme weather conditions.

The recent droughts have caused oil producers to brace for yet another very difficult winter due to their small yield. Ongoing drought conditions may mean that there will be even more demand for the product next year.

Από την δημοπρασία στην Ολλανδία, στην οποία το 0,5 λίτρο συλλεκτικού ελαιολάδου από υπεραιωνόβιες ελιές πουλήθηκε στα 510 ευρώ. Τα χρήματα αυτά πήγαν για την ενίσχυση του Αγροτικού Μουσείου ΑΛΣΜΙΡ.

Posted by Eptastiktos Koinsep on Tuesday, November 27, 2018