OLIVE OIL PRICES - April 2023 update
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Olive oil prices in oil mills are reaching maximum levels in the 2022/2023 crop year. Prices of extra virgin olive oil increased by more than 40% in the fourth week of March, compared with the same period previous crop year.
Bari, Italy, Chania, Greece and Jaén, Spain are the most representative olive oil markets of the European Union. They cover more than 60% of global olive oil production. Prices in these three countries, particularly in Spain, have an impact on other producing countries, and mainly on the oils they intend to export.
From the 2011/2012 crop year to the 2022/2023 crop year, extra virgin olive oil in Jaén, Spain cost less than €227.5 per 100kg for 25% of the time, and 25% of the time it exceeded €336.8 per 100kg. The average price in this period was around €291.5 per 100kg. The maximum and minimum prices were €536 and €174.3 per 100kg respectively.
The IOC’s latest figures put extra virgin olive oil at €519 per 100kg (+43.2% compared to the same period previous crop year).
Refined olive oil prices in Jaén, Spain stood at €485 per 100kg (+43.1% compared to the same period previous crop year).
In Bari, Italy, extra virgin olive oil cost less than €334 per 100kg for 25% of the time, and 25% of the time it exceeded €533 per 100kg. The average price in this period was around €428 per 100kg. The maximum and minimum prices were €614 and €221 per 100kg respectively.
The IOC’s latest figures put extra virgin olive oil at €603 per 100kg (+40.9% compared to the same period previous crop year).
Chania, Greece , saw extra virgin olive oil cost less than €241 per 100kg for 25% of the time, and exceeded €312 per 100kg for 25% of the time. The average price in this period was around €279.9 per 100kg. The maximum and the minimum prices were €475 and €182 per 100kg respectively.
The IOC’s latest figures put extra virgin olive oil at €465 per 100kg (+45.3% compared to the same period previous crop year).
The latest figures for the price of extra virgin olive oil in Trás-os-montes-Portugal, Portugal, put it at €600 per 100kg.
Extra virgin olive oil from Tunisia starts to fall in the 2019/2020 crop year, coming in at €192 per 100kg in September 2020. The average crop year was €228.7 per 100kg, this figure for the 2020/2021 crop year was €328.1. In March 2023, the price reached €518 per 100kg.
The latest figures for extra virgin olive oil in Turkey put it at €264 per 100kg in December 2018.
1. Jaén, Spain
From the 2011/2012 crop year to the 2022/2023 crop year, extra virgin olive oil in Jaén, Spain:
- stood below €227.5 per 100kg 25% of the time;
- stood above €336.8 per 100kg 25% of the time;
- had an average price of around €291.5 per 100kg;
- reached a maximum of €536 per 100kg;
- reached a minimum of €174.3 per 100kg.
The latest figure gathered by the IOC for extra virgin olive oil price stood it at €519 per 100kg (+43.2% compared to the same period previous crop year).
Refined olive oil prices in Jaén-Spain stood at €485 per 100kg (+43.1% compared to the same period previous crop year).
1.1 Weekly olive oil prices
1.2 Week over week variation rates
1.3 Monthly extra virgin olive oil average prices
2. Bari, Italy
From the 2011/2012 to the 2022/2023 crop year, the price of extra virgin olive oil in Bari, Italy:
- stood below €334 per 100kg 25% of the time;
- stood above €533 per 100kg 25% of the time;
- had an average price of around €428 per 100kg;
- reached a maximum of €614 per 100kg;
- reached a minimum of €221 per 100kg.
The latest figure gathered by the IOC for extra virgin olive oil price gave €603 per 100kg (+40.9% compared to the same period previous crop year).
2.1 Weekly olive oil prices and week over week variation rate 3
2.2 Monthly extra virgin olive oil average prices
3. Chania, Greece
From the 2011/2012 to the 2022/2023 crop year, the price of extra virgin olive oil in Chania, Greece:
- stood below €241 per 100kg 25% of the time;
- stood above €312 per 100kg 25% of the time;
- had an average price of around €279.9 per 100kg;
- reached a maximum of €475 per 100kg;
- reached a minimum of €0 per 100kg.
The latest figures for extra virgin olive oil stood at €465 per 100kg (+45.3% compared to the same period previous crop year).
3.1 Weekly olive oil prices and week over week variation rate 5
3.2. Monthly extra virgin olive oil average prices
4. Trás-os-montes-Portugal
The latest figures for extra virgin olive oil in Trás-os-montes, Portugal stood at €600 per 100kg.
4.1 Weekly olive oil prices 7
4.2.Monthly extra virgin olive oil average prices
5. Jaén, Bari, Chania and Trás-os-montes extra virgin olive oil
5.1 Extra virgin olive oil montly prices
5.2 Month over month olive oil price variation rates
6. Other olive oil prices in oil mill
6.1 Tunisia 8
| Reference | Extra virgin olive oil | Virgin olive oil |
|---|---|---|
| Oct. 2017 | 352.0 | 320.0 |
| Nov. 2017 | 352.0 | 320.0 |
| Dec. 2017 | 336.0 | 304.0 |
| Jan. 2018 | 336.0 | 304.0 |
| Feb. 2018 | 336.0 | 304.0 |
| Mar. 2018 | 336.0 | 304.0 |
| Apr. 2018 | 336.0 | 304.0 |
| May. 2018 | 336.0 | 304.0 |
| Jun. 2018 | 336.0 | 304.0 |
| Jul. 2018 | 352.0 | 320.0 |
| Aug. 2018 | 352.0 | 320.0 |
| Sep.2018 | 352.0 | 320.0 |
| Oct. 2018 | 320.0 | 279.0 |
| Nov. 2018 | 320.0 | 279.0 |
| Dec. 2018 | 304.0 | 264.0 |
| Jan. 2019 | 304.0 | 264.0 |
| Feb. 2019 | 304.0 | 264.0 |
| Mar. 2019 | 304.0 | 264.0 |
| Apr. 2019 | 304.0 | 264.0 |
| May 2019 | 304.0 | 264.0 |
| Jun. 2019 | 304.0 | 264.0 |
| Jul. 2019 | 320.0 | 279.0 |
| Aug. 2019 | 320.0 | 279.0 |
| Sep.2019 | 320.0 | 279.0 |
| Oct. 2019 | 304.0 | 288.0 |
| Nov. 2019 | 304.0 | 288.0 |
| Dec. 2019 | 272.0 | 256.0 |
| Jan. 2020 | 256.0 | 224.0 |
| Feb. 2020 | 240.0 | 192.0 |
| Mar. 2020 | 224.0 | 192.0 |
| Apr. 2020 | 208.0 | 176.0 |
| May. 2020 | 192.0 | 176.0 |
| Jun. 2020 | 186.0 | 186.0 |
| Jul. 2020 | 186.0 | 186.0 |
| Aug. 2020 | 186.0 | 186.0 |
| Sep.2020 | 186.0 | 186.0 |
| Oct. 2020 | 372.0 | 310.0 |
| Nov. 2020 | 372.0 | 310.0 |
| Dec. 2020 | 356.5 | 294.5 |
| Jan. 2021 | 341.0 | 294.5 |
| Feb. 2021 | 325.5 | 279.0 |
| Mar. 2021 | 310.0 | 248.0 |
| Apr. 2021 | 310.0 | 248.0 |
| May. 2021 | 310.0 | 248.0 |
| Jun. 2021 | 310.0 | 248.0 |
| Jul. 2021 | 310.0 | 248.0 |
| Aug. 2021 | 310.0 | 248.0 |
| Sep.2021 | 310.0 | 248.0 |
| Oct. 2021 | 372.0 | 310.0 |
| Nov. 2022 | 372.0 | 341.0 |
| Dec. 2022 | 372.0 | 341.0 |
6.2 Turkey
| Reference | Extra virgin olive oil | Virgin olive oil |
|---|---|---|
| Oct. 2017 | 360 | 340 |
| Nov. 2017 | 357 | 334 |
| Dec. 2017 | 353 | 330 |
| Jan. 2018 | 340 | 309 |
| Feb. 2018 | 334 | 307 |
| Mar. 2018 | 324 | 299 |
| Apr. 2018 | 309 | 288 |
| May. 2018 | 296 | 274 |
| Jun. 2018 | 287 | 266 |
| Jul. 2018 | 281 | 258 |
| Aug. 2018 | 237 | 221 |
| Sep.2018 | 214 | 199 |
| Oct. 2018 | 240 | 224 |
| Nov. 2018 | 261 | 244 |
| Dec. 2018 | 264 | 241 |
6.3 Spain
6.4 Italy
6.5 Greece
6.6 Portugal
6.7 Croatia
Contact: International Olive Council - Economic and Promotion Unit - Economic Research and Statistics Department https://www.internationaloliveoil.org/
Some of the data are subject to review. Figures are subject to change or correction without notice.
Latest update: Wed Apr 05 18:20:04 2023
IOC own elaboration based on data from the European Commission; the Ministry for Agriculture, Fisheries and Food of Spain; ISMEA (Italy); and information provided by member countries. Some of the data are subject to review. Olive crop year means the period from 1 October of year t to 30 September of year t+1 for olive oil. Olive oil prices in oil mill, in € / 100 kg, without VAT Reg. C.E. 865/04 and 826/08.↩︎
Robust regression using an M estimator has been used. The models are significant for consumption in Jaén and Chania and for consumption and production in Bari. It has been assumed that all the olive oil consumed was extra virgin olive oil. Olive oil consumption includes 150910 - (Virgin Olive Oil) and 150990 - (Olive + Refined Oil).↩︎
No data avalaible for other categories The data for lampante olive oil and virgin olive oil have been estimated in the week from 2020-11-02 to 2020-11-08.↩︎
Robust regression using an M estimator has been used. The models are significant for consumption in Jaén and Chania and for consumption and production in Bari. It has been assumed that all the olive oil consumed was extra virgin olive oil. Olive oil consumption includes 150910 - (Virgin Olive Oil) and 150990 - (Olive + Refined Oil).↩︎
No data avalaible for other categories↩︎
Robust regression using an M estimator has been used. The models are significant for consumption in Jaén and Chania and for consumption and production in Bari. It has been assumed that all the olive oil consumed was extra virgin olive oil. Olive oil consumption includes 150910 - (Virgin Olive Oil) and 150990 - (Olive + Refined Oil).↩︎
No data avalaible for other categories↩︎
Exchange rate: 1 TND = 0.32 EUR; from june 2020 0.31 EUR↩︎