Cyprus olive oil use slips as crisis forces hard choices

New figures show olive oil consumption is down in Cyprus due to the economic crisis hitting the country. According to a new study by the Greek Embassy in Cyprus, private consumption in Cyprus will fall by 15% by the end of the year. That’s as the disposable income of the average Cypriot is estimated to fall by 20% by the end of the year as well. In an interview with Olive Oil Times, Dr Costas Gregoriou a Cypriot olive oil cultivation specialist and expert, said the financial crisis is indeed taking its toll on Cypriot food consumption habits.