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 producers. The monthly price movements for these grades of oil are tracked in Graphs 2 and 4.
Extra virgin olive oil – Producer prices in Spain decreased over the last few weeks, coming in at the end of March at €3.13/kg, which is down by 19% compared to the previous year (Graph 1).
Italy – Following a sharp fall to below €4 in mid-December 2017, prices in Italy have been stable in recent weeks, standing at €4.06/kg at the end of March 2018, which is a 34% 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 weeks, down to €3.08/kg at the end of March, which is 13% lower than the same period last year.
Tunisia – Prices in Tunisia have been stable over the last few weeks, standing at €3.43/kg at the end of March, which is a 17% 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 at the end of March 2018 fell to €3.04/kg, down by 19% compared to the same year the previous year. In Italy, data for February for this category of oil were not available. At the beginning of January, prices reached €3.55/kg, which was a 4% increase compared to the previous year. No price data are available for this product category in Greece.
At the end of March 2018, the price difference in Spain between refined oil (€3.04/kg) and extra virgin oil (€3.13/kg) was of €0.09/kg. In Italy, the price difference between the two categories was greater than in Spain at €0.63/kg (Graph 3).
International Olive Council