Olive oil prices are experiencing a significant decline due to a surge in global production, with producer prices currently ranging from 5 to 6 euros per kilogram, down from 8 to 9 euros last year. This price drop is expected to affect supermarket shelves by February, with projections suggesting the price may reach 9 to 10 euros per liter. Despite weather challenges, Greece is set to be the second-largest olive oil producer in the EU, with an estimated output of 250,000 tons this year.