Olive Oil Prices & Market Digest | Week 22, 2026
The global olive oil market remains quiet in Week 22 of 2026, with limited commercial activity across key origins. Buyers are acting cautiously as they monitor flowering and fruit set conditions for the 2026/27 season. Despite little demand, origin prices remain largely stable. Producers and cooperatives are resisting downward pressure, while comfortable inventory levels among bottlers and industrial buyers reduce purchasing urgency.
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Spain’s olive oil market
In Spain, recent spring rainfall and favourable weather conditions have reinforced expectations for a solid 2026/27 harvest, with olive grove development remaining positive across most producing regions.
However, late-flowering areas in Andalusia are being negatively affected by an early heatwave, with temperatures reaching 35–40°C since mid-May. These unusually high temperatures are causing stress in groves still in flower or approaching flowering, potentially affecting fruit set. In contrast, earlier zones where fruit set has already occurred continue to show strong vegetative and productive development, with limited heat-related impact observed so far.
The expectation of a larger harvest is also increasing concerns over potential downward price pressure later in the season. As a result, producers are carefully managing sales volumes to protect inventory value and avoid accelerating price declines. This restrained selling strategy is keeping transaction activity limited and supporting short-term price stability.
Meanwhile, bottlers, retailers, and industrial buyers remain cautious, purchasing mainly for immediate needs while delaying larger contracts in anticipation of potentially lower prices later in the year.
Price trends by category:
● Extra Virgin Olive Oil (EVOO): €3.95–4.50/kg, gradually declining due to comfortable supply and subdued demand.
● Virgin Olive Oil (VOO): €3.35–3.80/kg, modestly softer with balanced market conditions.
● Lampante oil: €3.10–€3.30/kg, stable with consistent buyer interest.
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Greece’s olive oil market
The Greek olive oil market remains under pressure due to a below-average season, high production costs, and weak domestic pricing. Key producing regions such as Crete and the Peloponnese continue to face financial strain. Lower supply combined with weak price levels is tightening margins across the supply chain, particularly for growers and mills.
● Greek EVOO is currently priced at €4.15–4.80/kg.
Italy's olive oil market
Italy continues to trade at a premium compared to other origins. The market remains structurally tight, supported by strong PDO/PGI demand. However, underlying conditions show signs of softening, including rising inventories and slower export activity from price-sensitive demand in North America and Asia.
● Italian EVOO is currently priced at €5.80–6.80/kg.
Tunisia's olive oil market
Tunisia remains a highly competitive origin in the global market. It is actively exporting significant carryover stock, exerting downward pressure on Mediterranean pricing. Tunisian offers frequently undercut Spanish and Italian exports in price-sensitive markets.
● Tunisian EVOO is currently priced at €3.80–€4.10/kg.
EVOO origin price snapshot
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Market outlook
The olive oil market is currently shaped by two key uncertainties:
Agronomic conditions
● Flowering and fruit set in Spain
● Weather conditions across the Mediterranean
Demand evolution
● Weak April sales performance
● Potential recovery in May–June consumption
● Retail and bottling purchasing behaviour
Market participants are watching closely to see whether demand improves enough to support prices and whether May demand offsets April weakness. However, the market may remain range-bound until harvest visibility becomes clearer.
Key market drivers
● Delayed demand: Bottlers and retailers are purchasing only for immediate needs
● Comfortable inventories: Adequate stock levels reduce urgency
● 2026/27 harvest expectations: Strong flowering signals in Spain are raising expectations of a large crop, making buyers wait for potential price declines
● Producer resistance: Supply discipline is limiting downward price movement
The olive oil market is balanced between producers defending their prices and buyers purchasing little. Strong early expectations for the 2026/27 harvest, combined with weak short-term demand, are keeping the market in a low-liquidity, sideways phase. A decisive market move is unlikely until clearer signals emerge regarding demand and harvest potential in the Mediterranean.
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