Olive Oil Prices & Market Digest | Week 15, 2026
Mediterranean olive oil markets remain broadly stable in Week 15, with subdued trading activity across key origins. Market participants are mainly focused on stock management, while attention is beginning to shift toward early crop development signals for the 2026/27 season.
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IOC April report highlights growth in global olive oil imports
The International Olive Council (IOC) has reported a 9.2% increase in olive oil imports across major markets in the 2025/26 crop year (October 2025–January 2026), reaching 257,541 tonnes — up from 235,810 tonnes in the same period last season.
Japan leads the surge with a 60.7% jump, followed closely by China at 52.2% and Brazil at 41.3%. Australia also posted a solid 12.5% increase. The EU’s imports from extra-EU origins increased by 15%, reflecting stronger inflows from non-EU producing countries.
The United States, the world's largest single-country importer, saw volumes dip 6.9% year on year. Canada similarly contracted, slipping back 2%. Both markets had been among the strongest buyers in previous seasons.
Overall, the data points to broad-based international demand growth, helping support trade flows and underpin export momentum from key Mediterranean-producing regions.
Spain’s olive oil market
Olive oil trading in Spain remains minimal following the Easter break, with prices largely stable across categories. Extra virgin olive oil (EVOO) is trading at €4.20–4.80, broadly unchanged from pre-Easter levels, although buyers continue to pay premiums for top-quality batches. Virgin olive oil (VOO) is priced at €3.70–4.00, while lampante oil is at €3.00–3.30.
Pomace oil continues to see weak demand, trading at €1.88–1.90 ex-works and expected to remain stable. Refined olive oil is also quiet, priced around €3.40 amid subdued demand.
The 2025–2026 production season is winding down, with only small amounts of lampante oil still being produced as milling activity comes to an end.
In the fields, flowering has commenced in Andalusia, marking the start of the next production cycle. Recent rainfall in Córdoba this week has supported early development, and initial indications suggest a potentially strong bloom. Overall, orchard conditions are reported to be very good, with trees entering the new season in healthy condition.
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Greece’s olive oil market
The Greek market is quiet as the Easter break approaches. EVOO prices have softened to €4.20–5.10 amid low market activity, and are unlikely to decrease further. VOO and lampante remain unchanged, at €3.55–3.95 and €2.65–2.80 respectively.
Constrained supply continues to support pricing. Spanish buyers are offering around €4.40 for Greek EVOO. Though market activity is minimal right now, movement is expected to increase after Easter, with potential price gains.
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Italy's olive oil market
Olive oil trading in Italy remains quiet, with market participants largely in a wait-and-see mode. The market continues to face competitive pressure from elevated import volumes, particularly from North African origins, which are weighing on sentiment.
EVOO prices are stable at €6.50–7.00, unchanged from previous levels. Activity is expected to gradually increase in May as demand patterns become clearer.
Tunisia's olive oil market
Tunisia is experiencing a strong surge in exports, with EVOO accounting for the bulk of shipments, primarily destined for Europe and the United States. However, abundant supply continues to place pressure on export prices despite strong trade flows.
EVOO prices have risen sharply to €3.80–4.00, narrowing the gap with Spanish and Greek levels and significantly higher than earlier in the year, when the price floor was around €3.10.
EVOO price comparison by country
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Spain anchors the lower end of the EU range with steady post-Easter pricing, while Italy maintains the premium despite strong import competition. Greece is temporarily softer ahead of Easter but remains supported by tight supply, whereas Tunisia continues to operate as a price-sensitive export origin, with rising volumes keeping it well below EU levels despite recent upward pressure.
Market outlook
As the Mediterranean olive oil market moves into mid-April 2026, focus is shifting toward the key agronomic phase that will shape the 2026/27 production outlook. Flowering has started in southern Spain, with Tunisia and Greece expected to follow shortly, and Italy later in spring. The coming weeks are critical, as flowering and early fruit set are highly sensitive to weather, particularly rainfall and temperature stability.
Near-term trading conditions remain subdued following the Easter period, with prices expected to stay broadly stable. Market participants continue to focus on managing existing stocks, while export demand and regional supply balances—particularly strong Tunisian shipments and stable EU inventories—provide a steady underlying framework.
Looking ahead, the market is transitioning to a highly weather-driven phase, where 2026/27 yield expectations will come into focus. Any adverse conditions during flowering could lift prices, while favourable weather would likely reinforce current stability.
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