Greece, Italy and Spain are the largest suppliers of olive oil to the European Union market, accounting for over 60% of the world’s production of this type of agricultural products.
Extra virgin olive oil in Greece and Spain is currently showing higher prices, while prices for Italian products are slightly lower. In particular, Greek prices remained at a good level throughout the 2020/2021 period, ranging from EUR 2.40 / kg to EUR 3 / kg. According to monthly data published by the International Olive Council – IOC (ΔΟΕ), the average price for Greece during this period was about 269.3 euros per 100 kg, with the maximum price being fixed at 388 euros.
According to the latest IOC (ΔΟΕ) data for Greece, extra virgin olive oil costs € 315 per 100 kg (+ 35.5% over the same period last year).
It should be noted that the price of products in three countries – Italy, Greece and Spain, especially in the latter, have an impact on other countries that produce oil that is exported. As for Spain, during the harvest period 2011/2012 to 2020/2021 extra virgin olive oil cost from 220.5 euros to 324.9 euros per 100 kg. The average price during this period was about 277.3 euros per 100 kg. The maximum and minimum prices were 423 euros and 174.3 euros per 100 kg, respectively.
According to the latest IOC (ΔΟΕ) data, Spanish extra virgin olive oil costs 330.6 euros per 100 kg (+ 32.2% over the same period last year).
In Italy, extra virgin olive oil cost from 321 euros to 509 euros per 100 kg. The average price during this period was about 419.6 euros per 100 kg. The maximum and minimum prices were 614 euros and 221 euros, respectively.
Extra virgin olive oil costs 390 euros per 100 kg (-18.8% over the same period last year).
It should be noted that extra virgin olive oil from Tunisia begins to fall in price in the 2019/2020 harvest season, reaching 192 euros per 100 kg in September 2020. On average, in the harvest year, in the 2020/2021 season, the price of oil has already amounted to 328.1 euros.