Graph 1 shows the weekly movements in prices paid to producers of extra virgin olive oil in the top three European producing countries and Tunisia. Graph 3 shows the weekly changes in producer prices for refined olive oil in the top three EU producer countries. The monthly price movements for these grades of oil are tracked in Graphs 2 and 4.
Extra Virgin Olive Oil – Producer prices in Spain remained somewhat stable in the last two months, reaching €2.77/kg at the end of August 2018, a -27% variation on the same period last year (Graph 1).
Italy – Italian prices picked up slightly in the last weeks of July, reaching €4.55/kg by the last week of August, a 26% fall compared to the same period the previous year. Graph 2 shows the monthly price movements of the extra virgin olive oil category in recent crop years.
Greece – Prices in Greece have recovered in the last few weeks, standing at €2.78/kg at the end of August, which is down by 26% compared to the same period the previous year.
Tunisia – Prices in Tunisia have remained stable in the last weeks of June 2018, at €3.43/kg, which is down by 18% compared to the same period the previous year.
Refined olive oil: Producer prices for refined olive oil in Spain and Italy generally follow the same trend as the prices for extra virgin olive oil. The price in Spain first fell sharply before climbing slightly in the last few weeks, posting €2.45/kg at the end of August 2018, down by 34% compared to the same period the previous year. In Italy, the data for this category of oil have not been available since the end of December 2017, when they stood at €3.55/kg, which was a 4% increase on same period the previous year. No data from Greece are available for this product category.
At the end of June 2018, the price difference between refined oil (€2.45/kg) and extra virgin oliveoil (€2.77/kg) in Spain was €0.32/kg. In Italy, the price difference between these two categories was greater, according to the December 2017 data, at €0.63/kg (Graph 3).
Photo by Olio Officina