Wednesday, April 27, 2016
Greece getting some relief in Olive Oil
Did a post a bit over a year ago on the price of Greek olive oil in USD terms here.
Price last year was $60 while today it is up to $65 so this is indicative that the Greek olive oil producers have been able to achieve a bit better real terms of trade in USD terms over the last year. Perhaps some indirect benefit of the very significant reduction in petroleum/products since we last looked at this price.
EUR/USD was about at the same level on the two dates in question so this is a nice get for the Greek olive oil people.