Olive Oil Prices & Market Digest | Week 21, 2026
The olive oil market in Week 21, 2026, is dominated by low liquidity and subdued trading activity, with limited price movement and a cautious tone across origins. Buyers remain largely absent, and operators are carefully controlling inventory reduction. Near-term, the market is stable but fragile, with attention centred on the 2026/27 crop formation cycle and upcoming demand data to provide market signals.
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Spain’s olive oil market
Spain’s olive oil market remains largely inactive, with tight supply, weak buying interest, and ongoing inventory reduction. Producers are slowly drawing down stocks while limiting new sales, and buyers remain cautious after completing earlier forward coverage.
Extra virgin olive oil (EVOO) is trading at €4.00–€4.60/kg, virgin olive oil (VOO) at €3.70–€3.80/kg, and lampante at €3.20–€3.30/kg, largely flat.
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Lower-quality oils are under greater downward pressure, while premium EVOO is being defended by mills, widening the gap between grades. Standard-quality stocks are being sold more aggressively at lower levels.
The key upcoming event is the AICA data release in early June, which will clarify whether weaker outflows are temporary or signal a deeper demand shift.
Market participants are focused on the 2026/27 crop, currently flowering. Conditions are broadly supportive, with mild weather, rainfall, and improving reservoir levels.
At the same time, there is growing attention on Tunisian imports into Spain, with COAG Jaén reporting that up to 100,000 tonnes of Tunisian olive oil may have entered Spain during this campaign, while ASAJA Córdoba has called for stricter enforcement of documentation through AICA.
Greece’s olive oil market
Greece’s olive oil market remains inactive, with low trading volumes, limited buyer interest, and weak external demand, while domestic consumption is also subdued.
EVOO is trading at €4.15–4.80/kg, broadly flat to slightly higher week on week, indicating stable price conditions.
The flowering stage is progressing well, with attention focused on early 2026/27 crop development conditions.
Italy's olive oil market
Italy’s olive oil market remains inactive, with low trading activity and limited liquidity. Reliance on Spanish and Tunisian imports continues, as inventories remain tight relative to domestic consumption and export commitments.
EVOO is trading at €5.80–6.80/kg, lower than in past weeks due to weaker demand, but still at a premium versus other origins. The market continues to show margin pressure across the value chain, particularly in bottling and retail.
The flowering stage is progressing positively, supporting early expectations for the 2026/27 crop.
Tunisia's olive oil market
Tunisia’s olive oil market continues to benefit from solid supply following a strong production season, leaving inventories comfortably available.
EVOO is trading at €3.80–4.15/kg, broadly flat to slightly higher week-on-week. Tunisia remains a cost-competitive marginal supplier in global olive oil trade flows.
Demand from Spain and Italy is weaker, while export activity is increasingly supported by United States buyers. Domestic consumption remains subdued due to higher prices.
The flowering stage is progressing well, and reservoir levels remain healthy, supporting a stable near-term supply outlook.
EVOO origin price snapshot
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Market outlook
The olive oil market is in a limited-liquidity phase, where short-term price direction remains soft but constrained. Across origins, trading activity is subdued, with buyers largely absent after completing earlier forward coverage and producers focused on controlled inventory reduction rather than aggressive selling.
In the near term, prices are expected to remain flat amid weaker demand.
The critical driver is the 2026/27 crop formation cycle, currently underway during the flowering window across the Mediterranean. Agronomic signals are broadly supportive, with generally favourable weather conditions and reservoir levels.
Demand uncertainty remains the key swing factor, with Spain’s upcoming AICA data release expected to clarify whether recent weaker outflows are temporary or structural demand loss.
Overall, the market is stable but sensitive, with prices anchored by tight premium supply and early crop uncertainty, while directionality will increasingly depend on weather outcomes and demand signals over the coming months.
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