An interesting article on the olive oil industry in Greece and how much it contributes to the Greek economy.  Keep on buying that Minos & Altis and any other Greek branded olive oil … liquid gold!!!

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Greece’s food and beverage sector relies on more than 525,000 farmers, about 11-12% of the country’s labour force, for its steady and reliable supply of raw materials. In the European Union, more than 70% of agricultural production is transformed into consumables of the food and beverage industries that employ more than 4 million persons.

Food and beverage account for 2 billion Euro of Greek exports, with major destinations Italy (22.2%), Germany (17.6%), United Kingdom (8%), United States (5.4%), and Spain (4.6%).  In 2008, the Food and Beverage sector grew by 1.2 percent. Olive oil accounts for almost 12% of the sector’s exports. Globally, 2.2 million tons of olive oil are produced, about 77% in the EU. Spain, Italy, and Greece are the top producers.

The olive and olive oil sector is dynamic and export-oriented and has a significant effect on Greece’s economy.

Greek olive oil production exceeds 300,000 tons annually and Greece is the third largest olive oil producer in the world. Per capital annual domestic consumption—at 16 kilograms—is the highest in the world. More than one third of all production—up to 135,000 tons (the volume of olive oil produced is dependent on the volume and quality olive of the year’s crop, which varies year to year)—is exported.

Greece is home to 120 million olive trees, more than 12 per Greek citizen. Since up to 70% of Greece’s olive oil is Extra Virgin Olive Oil, the highest standard available, Greece is the world’s leading exporter of Extra Virgin Olive Oil. Read the rest of this entry »