Refined olive oil price movements in Spain and Italy

SOURCE: INTERNATIONAL OLIVE COUNCIL – Good news for refined olive oil quotations.In Spain, the producer prices for refined olive oil started to move upwards from June 2014, then dipping slightly in the last two weeks of September 2014 and reaching €2.43/kg by the end of October 2014. This is 13 pc higher than the level in the same period of 2012/13. In Italy, prices have been moving in parallel with those in Spain, although with a peak in the third week of January (€2.83/kg), after which they fell to €2.53/kg by late October 2014, translating into a period-on-period increase of 7 pc which restores Italian prices to their usual position above Spanish prices. No price data are available for this product category in Greece.

At the end of October 2014, the price of refined olive oil and extra virgin olive oil in Spain differed by €0.23/kg with €2.43/kg being paid for the first category and €2.66/kg for the second. In Italy, the difference in price between the two categories is quite a lot wider than in Spain and works out at €1.55/kg (Graph 3).

Olio Officina