Dakry Olive: +72% turnover in 2023 – Launch of 12 new codes by the end of 2024

After the trip to Sweden and its presence at the exhibition Eco Living Scandinavia & the Nordic Organic Food Fair 2023, the Messinian family business of olive oil and honey production, Dakry Olive, managed to make its first export opening in the Swedish market, attaching agreements with two individual local businesses.

Ioannis Kryfos, co-founder and CEO of Dakry Olive, in an interview with FOODReporter, said that 2023 ended on a positive note for the newly formed company, while in the previous year, an additional growth in equity capital took place.

Saudi Arabia and Scandinavia: Five-year target markets

“In total, we have acquired four new customers in an export context, and we are at +72% of turnover from last year. 2023 was a good year for us, although obviously, at the end of 2023, we all started to face the issue of the high price of olive oil,” Mr. Hidden in FOODReporter. He commented on the prices of olive oil that they are now a major deterrent for buyers. In terms of its target markets, over the next five years the company will turn its attention to Saudi Arabia and Scandinavia, while it seeks to expand its exports to Romania and Poland.

The impact of “salad oil” on the consumption of extra virgin olive oil

Ioannis Kryfos pointed out that the situation is made more difficult by the strong presence and consumption of the well-known “salad oil” (a mixture of olive oil and sunflower oil), whose nutritional properties are not comparable to those of extra virgin olive oil, but which is preferred because of its lower price.

“Especially the people abroad, to a very large extent, do not know the difference of the salad oil they will be presented with compared to extra virgin olive oil. On the contrary, you cannot find a Greek household that does not have extra virgin olive oil. There may be information about extra virgin olive oil in other countries, but it has not yet become a way of life in Greece,” he added. Making a prediction on the issue, Ioannis Kryfos said that in the coming years, it will hardly come down the price of olive oil to the original levels, while he believes that the price of olive oil will stabilize around 7 euros per kilo, while organic, polyphenolic olive oils will be at 9 euros.

During Ioannis Kryphou’s discussion with FOODReporter at the Eco Living Scandinavia & the Nordic Organic Food Fair, he had shared that the market will see new product launches from Dakry Olive in 2024. Which is what happened: in the first quarter of 2024, the company is launching new products, enriching its catalogue with royal jelly and fresh pollen, while adding a new honey – a health elixir, which will be vitamin-enriched and iron-enhanced. “In 2024, we will launch about 12 codes,” he told FOODReporter. The family business Dakry Olive started its activities in mid-2022 and exports its products to the following markets: Romania, Poland, England, France, China and Sweden.

First publication of the news in the daily newsletterFOODReporter

Source : https://selfservice.gr/dakry-olive-sto-72-o-tziros-to-2023-lansarisma-12-neon-kodikon-mechri-to-telos-tou-2024/