Olive oil prices and market digest – Week 30, 2025

Olive Oil Market Digest – Week 30, 2025

Overview

The olive oil market faces tightening stocks, firm prices, and cautious trading. Minor price movements reflect uncertainty and selective buying, as producers await better offers. Italy remains the premium market and relies heavily on imports, while Spain and Greece maintain stable prices with limited volumes.

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Market Updates By Country

Greece

Crete

In Crete, extra virgin olive oil is €4.05–4.3/kg, virgin olive oil €3.5– 3.7/kg, and lampante €2.4–2.6/kg. Prices remain relatively steady, with a slight decline in Lampante compared to earlier weeks. Producers remain cautious but responsive to buyer interest, especially for higher-grade oils.

Peloponnese

The starting price of extra virgin olive oil in the Peloponnese is €4.15–4.20/kg. Confidence is slowly returning to the market, but producers remain cautious, trading in low volumes as they await clearer market signals, seasonal forecasts, and the possibility of improved prices. High summer temperatures and limited storage capacity are raising concerns about the quality of significant volumes of remaining stocks.

Spain

Limited quantities of high-grade extra virgin olive oil continue. Prices dropped slightly by €0.24/kg from last week's, now €3.95/kg, alongside a significant drop in traded volume, down by more than half. Virgin olive oil prices increased slightly to €3.47/kg, up by €0.18/kg from last week, with a moderate increase in volume. Lampante oil declined in price and volume. The total traded volume is down by over 1,300 tonnes, showing caution among buyers and sellers due to the summer slowdown, supply uncertainty, and market tension.

Italy

In Italy, the price of extra virgin olive oil stayed steady at €9.00/kg this week, maintaining its position as the most premium market. Demand remains steady. Due to high prices and limited domestic stock, Italian buyers continue sourcing externally, mainly from Spain and, to a lesser extent, Greece.

Portugal

Portugal's extra virgin olive oil prices held steady in a slow summer market. Medium-level demand matched a medium-level supply, and Spanish oil continues to compete. Carry-over stocks from the 2024/2025 near-record harvest are enough to cover domestic needs through to September. Most of the remaining oil is already committed, leaving minimal volumes on the market. New crop shipments are unlikely as operators focus on preparing for the upcoming campaign.

Tunisia

Tunisian olive oil volumes were up this season, but revenues dropped as average export prices fell. Stocks are nearing depletion, and what oil is left faces quality loss in the summer heatwave. With limited supply left to offer, Tunisia's presence on the market will shrink until the next harvest begins, pushing buyers to other countries' supplies and pressuring neighboring markets.

Comparative Price Summary by Country & Grade

Extra Virgin Olive Oil

Italy's extra virgin olive oil at €9.00/kg is more than double Greece's €4.18/kg midpoint and nearly 2.5 times Spain's €3.62/kg, reflecting a smaller production caused by drought and pathogens. Spain leads in volume and lower costs after two difficult drought seasons. Greece sits in the middle: production has increased, but prolonged southern drought caps quality and keeps prices under €4.20/kg.

Virgin Olive Oil

Virgin olive oil prices show only Spain reporting figures, with its average rising very modestly from last week's, to €3.18/kg. This slight increase suggests stable but gently firming domestic market conditions over the week.

Lampante

Between this week and last, prices for lampante olive oil were unchanged in Greece and Spain, at €2.40/kg and €2.99/kg respectively. This indicates stable domestic supply and demand conditions.

Market Sentiment & Buyer Behaviour

Tight supply conditions continue across the Mediterranean, though summer slowdown (especially in Spain) limits trade activity.

Greece: Producers continue to hold back stock, aiming for price increases, as Italian and Spanish demand supports the high end of the price range. Demand stays strong.
Spain: Low availability of premium oils pushes buyers to compete aggressively for quality lots. Spanish trade is stable with limited volumes and controlled pricing, showing no major shifts this week.
Italy: The market continues to lead the premium, with buyers focusing on imports to mitigate local scarcity, keeping upward pressure on neighboring markets.

Looking Ahead

With August holidays approaching, trading is expected to slow, and thin liquidity may cause price fluctuation. Supply remains tight for high-quality extra virgin olive oil and Lampante, though broader Spanish stocks may limit further gains until crop outlooks are clearer. The key factors to watch are possible heat-related cuts to Spain's fruit, packer interest in late-August forward contracts, and the first harvest forecasts in mid-September.

Conclusion

Low volumes, selective buying, and sustained pressure on premium grades define the olive oil market. Supply limitations and summer storage issues may put further upward pressure on prices in August. Market participants hold steady, awaiting clearer crop signals and September's harvest outlooks to set the tone for the new season.