Greek consumers are currently paying more than ever before for a litre of standard olive oil, with prices ranging between €12 and €15 ($12.88-$16.11).
In March, prices had risen by 67.2% compared with the same month last year, according to the statistics authority Elstat on Wednesday. Greeks consume around 12 litres per capita per year, the largest average amount in the EU.
A dramatically poor harvest in the 2022-23 season is to blame for the price explosion.
Spain, the world's largest producer, saw its yield plummet by more than half, while things were not much better in Italy and Greece.
Olive growers blame climate change. Mild winters instead of cold weather, excessively high temperatures right at flowering time and too little rain later on made it difficult for the trees to form and bear fruit.
In addition, production costs have risen due to high energy and fuel prices.
Farmers are pessimistic about the prospects for the current year. The winter was again disproportionately warm in large parts of Greece, and the spring brought less rain than had been hoped for.