Graph 1 tracks the weekly movements in prices paid to producers for extra virgin olive oil in the top three European producing countries and Tunisia, while Graph 3 shows the weekly changes in producer prices for refined olive oil in the main 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, after falling over the last few months entered a slight up-turn to reach €2.72/kg at the end of June 2018, which is a 30% year on year decrease (Graph 1).
Italy – Prices in Italy showed more buoyancy in the last few weeks, coming in at €4.21/kg at the end of June 2018, for a 28% year-on-year decrease. Graph 2 shows the monthly price movements of the extra virgin olive oil category in recent crop years.
Greece – Prices in Greece have fallen in recent months, posting at €2.58/kg in mid-June, which is down by 31% compared to the same period the previous crop year.
Tunisia – Prices in Tunisia have also remained stable in the last few weeks, standing at €3.43/kg at the end of June for a 18% year-on-year decrease.
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 at €2.32/kg at the end of June 2018, down by 40% compared to the same period the previous year. In Italy, 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% year-on-year increase. No data are available for this product category in Greece.
At the end of June 2018, the price difference in Spain between refined oil (€2.32/kg) and extra virgin olive oil (€2.72/kg) was of €0.40/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