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According to a recent study done about olive oil in Greece, it said that Greece is the third biggest country in olive production, having 13 percent of international production along with Italy being at 40 percent and Spain at 22 percent.
Olive oil has been a very important product in the Greek households for centuries and it has also been an important aspect of the Greek economy. In 2009 there was a total of 370,000 tons counted for 0.3 percent of the gross domestic product. Italy only having 0.1 percent and Spain only 0.2 percent; 75 percent of Greek olive oil is extra virgin in contrast with Italy’s olive oil which is only 45 percent extra virgin.
Olive oil comes from olive trees which mainly grow in the Mediterranean. The first harvest of olives took place in the island of Crete and archaeologists suggest that olive trees in Crete grew as long as 2,500 B.C. However, nowadays producers in Greece are not taking advantage of this powerful product in result of this there is a huge decline in olive oil production. Olive oil had a decline at 16 percent in global production in 1990 to a 12 percent decline in 2009. The reason for this decline is the lack of processing, standardization and production.
Some suggest the solution for this decline is to first cut out expenses to other countries and focus on highly productive areas such as Crete and Peloponnesus. Lastly to standardize such as annual turnover of oil standardizing companies in Greece is only 0.5 million euro’s unlike in Italy its 1.5 million euro’s.

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