OLIVE OIL PRICES - May 2024 update

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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 2023/2024 crop year, extra virgin olive oil in Jaén, Spain cost less than €231.9 per 100kg for 25% of the time, and 25% of the time it exceeded €358.5 per 100kg. The average price in this period was around €330.4 per 100kg. The maximum and minimum prices were €902.5 and €174.3 per 100kg respectively.

The IOC’s latest figures put extra virgin olive oil at €710 per 100kg (+36.1% compared to the same period previous crop year).

Refined olive oil prices in Jaén, Spain stood at €660 per 100kg (+37.2% compared to the same period previous crop year).

In Bari, Italy, extra virgin olive oil cost less than €340 per 100kg for 25% of the time, and 25% of the time it exceeded €576.5 per 100kg. The average price in this period was around €464 per 100kg. The maximum and minimum prices were €968 and €230 per 100kg respectively.

The IOC’s latest figures put extra virgin olive oil at €968 per 100kg (+60% compared to the same period previous crop year).

Chania, Greece , saw extra virgin olive oil cost less than €246 per 100kg for 25% of the time, and exceeded €329 per 100kg for 25% of the time. The average price in this period was around €313.2 per 100kg. The maximum and the minimum prices were €860 and €182 per 100kg respectively.

The IOC’s latest figures put extra virgin olive oil at €740 per 100kg (+51% 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 €959 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 the second week of February 2024, the price reached €845 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 2023/2024 crop year, extra virgin olive oil in Jaén, Spain:

  • stood below €231.9 per 100kg 25% of the time;
  • stood above €358.5 per 100kg 25% of the time;
  • had an average price of around €330.4 per 100kg;
  • reached a maximum of €902.5 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 €710 per 100kg (+36.1% compared to the same period previous crop year).

Refined olive oil prices in Jaén-Spain stood at €660 per 100kg (+37.2% 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

1.4 Price estimation of extra virgin olive oil according with consumption prevision 2

2. Bari, Italy

From the 2011/2012 to the 2023/2024 crop year, the price of extra virgin olive oil in Bari, Italy:

  • stood below €340 per 100kg 25% of the time;
  • stood above €576.5 per 100kg 25% of the time;
  • had an average price of around €464 per 100kg;
  • reached a maximum of €968 per 100kg;
  • reached a minimum of €230 per 100kg.

The latest figure gathered by the IOC for extra virgin olive oil price gave €968 per 100kg (+60% 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

2.3 Price estimation of extra virgin olive oil according with consumption prevision 4

3. Chania, Greece

From the 2011/2012 to the 2023/2024 crop year, the price of extra virgin olive oil in Chania, Greece:

  • stood below €246 per 100kg 25% of the time;
  • stood above €329 per 100kg 25% of the time;
  • had an average price of around €313.2 per 100kg;
  • reached a maximum of €860 per 100kg;
  • reached a minimum of €0 per 100kg.

The latest figures for extra virgin olive oil stood at €740 per 100kg (+51% 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

3.3 Price estimation of extra virgin olive oil according with consumption prevision 6

4. Trás-os-montes-Portugal

The latest figures for extra virgin olive oil in Trás-os-montes, Portugal stood at €959 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: Thu Apr 25 13:47:22 2024

  1. 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.↩︎

  2. 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).↩︎

  3. 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.↩︎

  4. 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).↩︎

  5. No data avalaible for other categories↩︎

  6. 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).↩︎

  7. No data avalaible for other categories↩︎

  8. Exchange rate: 1 TND = 0.32 EUR; from june 2020 0.31 EUR↩︎