Olive Oil Prices & Market Digest | Week 23, 2026
The global olive oil market remains largely inactive. Trading activity is limited, prices continue to soften across most origins, and market participants are waiting for clearer indications of how the 2026/27 crop will perform. With most buyers adequately covered and inventories comfortable, attention is on flowering, fruit set, weather conditions, and consumption trends that will determine next season's production potential.
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Spain’s olive oil market
Spain's olive oil market remains quiet, with limited buying interest and downward price pressure. Most bottlers and industrial buyers secured substantial volumes earlier in the season and currently have little urgency to purchase. Demand remains weak, with both domestic and export sales falling short of expectations, slowing the pace of stock drawdown.
Although nearly three-quarters of Spain's seasonal production has already been sold, inventories remain comfortable and are gradually declining.
The market's immediate focus is the upcoming AICA data, which will provide a clearer picture of stocks, monthly sales, and overall market balance. Until then, trading activity is likely to remain subdued.
Current bulk olive oil prices at origin:
- Extra Virgin Olive Oil (EVOO): €3.70–4.00/kg
- Virgin Olive Oil (VOO): €3.40–3.60/kg
- Lampante Olive Oil: €3.10–3.15/kg
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Unless weather conditions deteriorate significantly or consumption improves unexpectedly, the market is likely to continue declining through the summer months.
Greece’s olive oil market
The Greek olive oil market is also experiencing very limited trading activity. Prices have softened at the lower end of the market as buyers remain largely absent. Producers are increasingly focused on profitability as lower selling prices collide with elevated production costs.
Greek EVOO is currently trading between €3.90 and €4.80/kg, maintaining competitiveness in export markets but leaving producers with increasingly narrow margins.
Italy's olive oil market
Italy's olive oil market remains subdued, with buyers entering the market only when immediate needs arise. EVOO prices have declined significantly and have moved closer to Spanish and Greek levels, but continue to command a premium.
Italy faces tighter domestic availability, strong international demand, and disciplined inventory management by producers. Current Italian EVOO prices range between €5.00 and €6.50/kg. Despite lower prices, transaction volumes remain limited as buyers remain cautious.
Tunisia's olive oil market
Tunisia continues to maintain a competitive position in the international olive oil market. With good supply and prices below those in EU markets, Tunisian exporters remain active in key export destinations. This continues to increase competition for Spanish and other European suppliers, particularly in price-sensitive markets.
Current Tunisian EVOO prices range between €3.80 and €4.10/kg.
EVOO origin price snapshot
Current origin prices are now more narrowly spread across the Mediterranean market.
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Spanish and Tunisian oils continue to anchor the lower end of the market, Greece occupies the middle ground, while Italian oils maintain a significant premium.
Market outlook
The market’s attention is on the development of the 2026/27 crop. Flowering has progressed generally well across the Mediterranean, supporting favourable early production expectations. However, recent heatwaves are keeping market participants cautious. The next key stage will be fruit set, which will help indicate the potential of the next season's crop.
Key factors to watch
- Fruit set and crop development: An indicator of 2026/27 production potential.
- Weather conditions: Extended periods of heat or drought could quickly alter yield expectations.
- Consumption trends: Demand remains subdued despite lower prices.
- AICA data: Upcoming Spanish stock and sales figures will offer further insight into market balance.
- Energy costs: Rising fuel, fertilizer, processing, and transport costs continue to weigh on producer margins.
The market remains comfortably supplied. Market participants have little urgency to purchase and few immediate supply concerns. Everyone is waiting to better understand the potential of the next season's crop. The coming weeks will provide greater clarity on production prospects and the direction of prices heading into the new campaign.
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