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Olives and Olive Oil to Rise in Price in the Georgian Market

A price of olives and olive oil will  rise from January 1 in Georgia.

The reason is almost 100% dependence of theGeorgian olive market on imports. Due to the poor harvest in the European  countries,  olive oil has increased in price by one third.
Due to rain and high temperature in the spring, the olive harvest in Italy, Greece, France and Portugal has reduced by one third. These countries account for70% of olives and olive oil in the world market.

The price increase will occur in Georgia  as well because olive oil is mostly imported on the Georgian market.

GeoCop  company which holds 90% of Georgian olive oil market and 85% of olives market says that prices  for products imported from Greece have increased, while olive oil stocks imported from other European countries  will  suffice by the end of the year, accordingly, price hike is expected from January 1.

The company GEO-Live, which  planted 250 thousand saplings this year,  is going to increase prices too.The company founder notes that  there is a deficit of olives in the   world, which in turn  will be reflected in prices.