Spain's national average price for extra virgin olive oil was €3.24 per kilo in the week of 19 October 2026, the lowest since the week of 7 February 2022, according to a Wikifarmer analysis of the weekly prices that member states report to the European Commission. It was the seventh weekly fall in a row for the Spanish price, while prices in Italy and Portugal rose in the same week. These prices come a few days before Spain's decision on its olive oil withdrawal mechanism, which is expected in the first days of November.
The Spanish price fell for seven weeks in a row
In the week of 31 August, Spain's national extra virgin price was €348.74 per 100 kg. It fell every week after that, to €323.89 per 100 kg in the week of 19 October, 7.1% lower over seven weeks. Of the seven falls, the largest came in the week of 5 October, at 3.3%, followed by falls of 1.7% and 0.8% in the next two weeks, while each of the four September falls was 0.6% or less. The last time the Spanish price was this low, in the week of 7 February 2022, it stood at €323.55 per 100 kg, and in every week since then it was higher than in the week of 19 October (Agri-food Data Portal).
Source: Wikifarmer analysis of the weekly olive oil prices Spain reports to the European Commission (Agri-food Data Portal).
The price is 23.5% lower than in the same week of 2025
In the week of 20 October 2025, Spain's extra virgin price was €4.24 per kilo, so over one year it fell 23.5% year on year. These are producer prices for bulk oil at the mill exit, as reported to the Commission every week by each member state that produces more than 20,000 tonnes of olive oil (Commission Implementing Regulation (EU) 2017/1185). They differ from shelf prices.
Three of six Spanish markets fell and three were unchanged
Six Spanish markets reported an extra virgin price in the week of 19 October. Jaén, the Spanish province with the largest olive oil output, fell from €3.29 to €3.24 per kilo, its lowest price since the week of 7 February 2022, when it was €3.18. Seville fell from €3.15 to €3.13 and Málaga from €3.10 to €3.08 per kilo, while Córdoba stayed at €3.30, Toledo at €3.50 and Tarragona at €3.55. The national price is an average calculated by Spain, and the Commission's data do not show how each market is weighted.
Italy and Portugal rose in the same week
In the week of 19 October, Italy's national price rose 0.6% to €4.78 per kilo and Portugal's rose 0.8% to €3.55. Compared with the same week of 2025, the Italian price is 47.8% lower and the Portuguese price 17.5% lower. A week earlier, Italy's price was 48% lower than a year earlier, so last week's 0.6% rise changed the yearly comparison very little.
| Country | Week of 19 October 2026 (€/kg) | Week of 12 October 2026 (€/kg) | Change over one week | Week of 20 October 2025 (€/kg) | Change over one year |
| Spain | 3.24 | 3.26 | −0.8% | 4.24 | −23.5% |
| Italy | 4.78 | 4.75 | +0.6% | 9.15 | −47.8% |
| Portugal | 3.55 | 3.52 | +0.8% | 4.30 | −17.5% |
| Greece | no price | 3.45 | no price | 4.64 | no price |
Source: Wikifarmer analysis of European Commission weekly olive oil prices (Agri-food Data Portal), national average prices of extra virgin olive oil, bulk at the mill exit. Changes were calculated from prices in euros per 100 kg. The Greek price for the week of 19 October had not been published by 30 October 2026.
The Greek price for the week of 19 October has not been published
The latest Greek national price for extra virgin olive oil is for the week of 12 October, €3.45 per kilo, 5.2% lower than the week before. In the week of 12 October, the Spanish price was €3.26. Since 2005, after weeks in which the Spanish price fell by 3% or more, the Greek price was lower three weeks later in 31 of the 44 cases with complete data. For the Spanish fall in the week of 5 October, the three-week window closes with the prices of the week of 26 October. Until the Greek prices for the last two weeks are published, it cannot be said whether the Greek price followed this time.
The 2026/27 season opens with the lowest Spanish price since 2022
Mills and cooperatives enter the first weeks of the 2026/27 marketing year with the Spanish producer price at its lowest since February 2022. For bottlers and buyers of bulk oil, Spain was cheaper than Portugal and Italy in the week of 19 October, and cheaper than Greece the week before. The prices show what happened up to the week of 19 October and do not show where prices will go during the harvest. In Wikifarmer's assessment, which does not come from the prices themselves, two things in Spain could change the picture in the coming weeks. Minister of Agriculture Luis Planas said that the decision on the withdrawal mechanism will come in the first days of November, and the size of the crop is still an estimate, with a first estimate from Spain's Ministry of Agriculture of 1.6 million tonnes for 2026/27.
For Spanish exports outside the European Union, the US proposal to restrict imports of Spanish olive oil is still pending. It concerns the second largest buyer of Spanish olive oil and is open for comments until 14 December 2026. The data in this article are market information and not advice to buy or sell.
Weekly prices can be revised and one week is missing for Greece
The analysis was carried out by Wikifarmer on 29 October 2026, and all numbers were recomputed independently from the European Commission's source files. Prices are reported in euros per 100 kg and are also given here in euros per kilo. Changes are simple percentage changes calculated from prices in euros per 100 kg. The comparison "lowest since February 2022" rests on Spain's weekly prices since January 2019. Two weeks are missing from that series, the weeks of 29 November 2021 and 17 January 2022, both before the period of the comparison. The Greek price for the week of 19 October was not available on 30 October, and member states can revise the prices of the latest week. The production estimate and the statement on the withdrawal mechanism come from Wikifarmer's weekly olive oil reports and not from the analysis of prices.
Sources
- European Commission. (2026). Agri-food Data Portal, API guide and weekly olive oil prices. Directorate-General for Agriculture and Rural Development.
- European Commission. (2017). Commission Implementing Regulation (EU) 2017/1185 on the notification of information and documents to the Commission. EUR-Lex.
