High prices, quality issues, and a market waiting on Spain's main harvest
Olive oil prices remain elevated in Week 45 as the bulk market contends with early-season quality problems and limited availability of true extra virgin olive oil. Adverse weather conditions across the major Mediterranean-producing countries have reduced the amount of new crop oil meeting EVOO standards, creating supply bottlenecks and keeping prices high.
With large-scale Spanish production expected to begin within the next week, bottlers are purchasing only essential volumes, anticipating a supply-driven price correction once Spain's main harvest enters the market.
Stay up to date with our Weekly Olive Oil Digest
Spain: High prices persist ahead of main harvest launch
Spain is expected to start full-scale milling within a week, once fields dry sufficiently after recent rains. The market remains focused on the official production forecast of 1.4 million tons, a figure that could provide the first meaningful downward pressure on global olive oil prices if achieved.
Current pricing:
New crop EVOO
- Good-quality: >€5.00/kg
- Low-quality: ~€4.85/kg
Old crop (2024/2025)
- EVOO: €4.10–€4.40/kg (limited availability)
A significant price spread continues between high- and low-quality oils as buyers avoid paying premium levels for lower-grade new-season material.
 - New vs. Old Crop (1).jpg)
Buyer behavior
Spanish bottlers and Italian importers are purchasing only what they need to maintain operations, expecting softer prices in early December—especially after Puente de la Inmaculada (Dec 8), which traditionally marks the start of Spain's heavy production period.
Greece: Quality issues push prices higher
Greece faces significant quality deterioration this season due to the olive fruit fly and unfavourable weather conditions. Early oils from both the Peloponnese and Crete show elevated acidity and weakened flavour profiles. In the Peloponnese, many new oils are testing around 0.65% acidity, placing them near the upper limit for Virgin classification rather than Extra Virgin.
Despite these issues, producers—especially in Crete—are maintaining firm price positions due to limited early-season availability.
Current pricing:
Peloponnese
New crop
- EVOO: €5.00/kg
Old crop (2024/2025)
- EVOO: €4.50/kg
 - New vs. Old Crop.jpg)
Crete
New crop
- EVOO: €4.80-5.40/kg
- Organic: €5.40-5.80/kg
Old crop (2024/2025)
- EVOO: €4.00–€4.40/kg
- VOO: €3.50–€3.90/kg
- Lampante: €2.80–€3.30/kg
- Organic: €4.90-5.20/kg
Buyer resistance
Italian bottlers are pushing back against Greek price levels, targeting ~€4.40/kg delivered, creating a standoff that is likely to persist until Spanish volumes become available.
Italy: EVOO prices correct sharply from previous highs
Italy saw a significant price correction as new crop oil reached the market. The previous €9.00/kg high was widely considered artificial and unsustainable due to extremely limited availability.
Harvesting is underway in most regions except Puglia, where production has stalled due to quality problems. Several other producing areas are also reporting impact from the olive fruit fly, which is adding further pressure to quality and supply.
Current pricing:
New crop:
- EVOO: €8.00-8.50/kg
Old crop (2024/2025):
- EVOO: €7.00-7.20/kg
Further easing in Italian prices is expected as more new-crop oil becomes available in the coming weeks.
Refined & pomace oils: Stability for now, but pressure building
- Pomace oil: Expected to remain stable or rise slightly. If new EVOO stabilises at €4.50–€4.70/kg, pomace prices will likely adjust upward to maintain the standard market margin. No significant decline is anticipated before mid-December.
- Refined olive oil: Prices are forecast to ease at the beginning of December in line with broader expectations for growing supply.
Market outlook: All eyes on Andalusia
The global olive oil market is now almost entirely focused on Spain's upcoming production wave—particularly from Córdoba, one of the country's most productive regions. Large volumes are expected within the next few weeks, poised to bring the first real downward pressure on global olive oil prices this season.
Source olive oil with confidence on Wikifarmer's Marketplace:
Disclaimer: The information provided on this website, including market prices, insights, and projections, is for general informational purposes only. While we strive to ensure accuracy and timeliness, we make no guarantees regarding the completeness, reliability, or suitability of the information presented. Users are solely responsible for independently verifying the data and assessing its relevance to their specific circumstances before making any decisions. Wikifarmer and its operators shall not be held liable for any losses, damages, or consequences arising from the use of the information provided herein.
