Latest news with #KonstantinosPapadopoulos
Free Malaysia Today
14 hours ago
- Business
- Free Malaysia Today
Trump tariffs force Greek olive oil producers to seek new markets
Greece, the fifth-largest exporter of olive oil to the US, ships about 8,000-10,000 tonnes there annually. (EPA Images pic) VARVASAINA : Greek olive oil producer Konstantinos Papadopoulos wasted little time when the threat of US tariffs was floated by president Donald Trump in the spring. He immediately started looking for alternative buyers around the world. Within weeks, his family-run company had found a new buyer in Brazil, where Portuguese olive oil typically dominates. His first shipment of 15,000 bottles is expected to arrive in the port of Itapoa in two weeks. When Reuters visited his farm on Friday, Papadopoulos was close to sealing a separate deal with a new customer in Australia. 'I think we learned a lesson from Trump not to rely with all our strength on one market… and to always have alternatives,' Papadopoulos said in his olive oil mill and bottling plant, surrounded by thousands of bottles and huge tanks filled with the golden liquid. Trump announced a 30% tariff on European products that has sent shivers through industries from wine and peaches to cars. Papadopoulos' decision shows just how wide the fallout could be as producers grow weary even of the threats of tariffs. Greece, the fifth-largest exporter of olive oil to the US, ships about 8,000-10,000 tonnes there annually. Three of the other top producers – Spain, Italy and Portugal – are in Europe and face the same conundrum. The industry is huge for Greece, whose rolling hills are filled with groves of ancient, crooked olive trees. The Papadopoulos family company exported 350 tonnes of extra virgin olive oil in 2024 to the US, about one-third of its total exports, and 100 tonnes so far this year. He estimates that if Trump's tariff materialises sales to the US will fall by about 40% this year. 'While we had built all our infrastructure based on a large scale on the American market, suddenly we see it disappearing,' Papadopoulos said.
The Sun
3 days ago
- Business
- The Sun
Greek olive oil producers pivot from US amid Trump tariff threats
VARVASAINA: Greek olive oil producer Konstantinos Papadopoulos acted swiftly when U.S. President Donald Trump hinted at imposing tariffs on European goods earlier this year. His family-run business quickly secured a new buyer in Brazil, a market traditionally dominated by Portuguese olive oil. A shipment of 15,000 bottles is set to arrive in Itapoa soon, with another deal in Australia nearing completion. 'I think we learned a lesson from Trump not to rely with all our strength on one market... and to always have alternatives,' Papadopoulos said during a visit to his mill, where tanks brimmed with olive oil ready for export. The proposed 30% tariff on EU products has rattled industries from wine to automobiles, pushing producers like Papadopoulos to explore new markets preemptively. Greece, the fifth-largest olive oil exporter to the U.S., ships 8,000-10,000 tonnes annually. Other major European producers—Spain, Italy, and Portugal—face similar challenges. For Greece, olive oil is a cornerstone of agriculture, with ancient groves dotting its landscapes. The Papadopoulos family exported 350 tonnes to the U.S. in 2024, a third of their total output. This year, shipments have dropped to 100 tonnes, with a projected 40% decline if tariffs take effect. 'While we had built all our infrastructure based on a large scale on the American market, suddenly we see it disappearing,' Papadopoulos said. - REUTERS
Yahoo
4 days ago
- Business
- Yahoo
Trump tariffs force Greek olive oil producers to seek new markets
By Deborah Kyvrikosaios and Lefteris Papadimas VARVASAINA (Reuters) -Greek olive oil producer Konstantinos Papadopoulos wasted little time when the threat of U.S. tariffs was floated by President Donald Trump in the spring. He immediately started looking for alternative buyers around the world. Within weeks, his family-run company had found a new buyer in Brazil, where Portuguese olive oil typically dominates. His first shipment of 15,000 bottles is expected to arrive in the port of Itapoa in two weeks. When Reuters visited his farm on Friday, Papadopoulos was close to sealing a separate deal with a new customer in Australia. "I think we learned a lesson from Trump not to rely with all our strength on one market... and to always have alternatives," Papadopoulos said in his olive oil mill and bottling plant, surrounded by thousands of bottles and huge tanks filled with the golden liquid. Trump announced a 30% tariff on European products that has sent shivers through industries from wine and peaches to cars. Papadopoulos' decision shows just how wide the fallout could be as producers grow weary even of the threats of tariffs. Greece, the fifth-largest exporter of olive oil to the United States, ships about 8,000-10,000 tonnes there annually. Three of the other top producers - Spain, Italy and Portugal - are in Europe and face the same conundrum. The industry is huge for Greece, whose rolling hills are filled with groves of ancient, crooked olive trees. The Papadopoulos family company exported 350 tonnes of extra virgin olive oil in 2024 to the U.S., about one-third of its total exports, and 100 tonnes so far this year. He estimates that if Trump's tariff materialises sales to the U.S. will fall by about 40% this year. "While we had built all our infrastructure based on a large scale on the American market, suddenly we see it disappearing," Papadopoulos said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
Trump tariffs force Greek olive oil producers to seek new markets
VARVASAINA, July 18 (Reuters) - Greek olive oil producer Konstantinos Papadopoulos wasted little time when the threat of U.S. tariffs was floated by President Donald Trump in the spring. He immediately started looking for alternative buyers around the world. Within weeks, his family-run company had found a new buyer in Brazil, where Portuguese olive oil typically dominates. His first shipment of 15,000 bottles is expected to arrive in the port of Itapoa in two weeks. When Reuters visited his farm on Friday, Papadopoulos was close to sealing a separate deal with a new customer in Australia. "I think we learned a lesson from Trump not to rely with all our strength on one market... and to always have alternatives," Papadopoulos said in his olive oil mill and bottling plant, surrounded by thousands of bottles and huge tanks filled with the golden liquid. Trump announced a 30% tariff on European products that has sent shivers through industries from wine and peaches to cars. Papadopoulos' decision shows just how wide the fallout could be as producers grow weary even of the threats of tariffs. Greece, the fifth-largest exporter of olive oil to the United States, ships about 8,000-10,000 tonnes there annually. Three of the other top producers - Spain, Italy and Portugal - are in Europe and face the same conundrum. The industry is huge for Greece, whose rolling hills are filled with groves of ancient, crooked olive trees. The Papadopoulos family company exported 350 tonnes of extra virgin olive oil in 2024 to the U.S., about one-third of its total exports, and 100 tonnes so far this year. He estimates that if Trump's tariff materialises sales to the U.S. will fall by about 40% this year. "While we had built all our infrastructure based on a large scale on the American market, suddenly we see it disappearing," Papadopoulos said.
