Floods, forest fires and prolonged drought due to climate change affect Greek agricultural and livestock production and are expected to affect it even more strongly in the future. The devastating consequences of extreme natural phenomena in Greece have already begun to be seen in prices traditionally strong Greek products on the shelves of German supermarkets.

The reason is mainly for popular and particularly loved products, such as Greek olive oil, olives and even feta cheese. As for olive oil, which is called the “new gold”, its prices range from ten euros per liter and even reach 20 euros.

A short walk through a Berlin neighborhood supermarket confirms this trend. In German supermarkets, one mainly finds half-liter bottles, which are also out of reach, with many German consumers leaving them untouched, choosing other vegetable oils for cooking and salads. In fact, as the quality increases or when it comes to more “special” or organic labels, the prices can even exceed 20 euros.

No immediate price reduction is expected

In a recent report, Focus magazine even mentions that Greece, Germany’s third largest exporter of olive oil, suffered serious losses this year. For example, in Rhodes, numerous olive groves were burned, with estimates of a 50% reduction in yield. In regions such as Crete or Zakynthos, fears are expressed, according to Focus, for a reduction of up to 70% of the harvest. As for the famous Kalamon olives in Germany, in some areas losses due to high summer temperatures can even reach 80%.

According to the report, an increase is also recorded in the wholesale prices of olive oil, from which, however, the producers do not benefit, but the middlemen. The German magazine even observes that normalization of prices is not expected until 2024-2025, and this only if other natural disasters do not intervene in olive oil-producing countries, such as Greece, Spain, Turkey and Italy.

Greek feta is a “luxury” cheese

However, the fluctuations in the price of Greek feta, a favorite cheese of German consumers, are also of interest. The 200 grams of packaged this year in a neighborhood supermarket of the German capital cost about 3 euros. It is essentially a piece of feta cheese, for which German consumers will now have to dig deep into their pockets.

Focus also points out that 70% of Greek feta is produced in Thessaly, the area that was heavily affected by the floods, while 60% of the total production of Greek feta is exported. Germany is in fact the “best buyer” of feta cheese, absorbing a third of Greek exports.