Filenews 8 November 2024
The very high prices of olive oil in the last two years in retail trade - but also the significant performance for producers - seem that they will not continue in 2025, as indications from the purchases and sales that take place regarding this year's production and the scarce stocks of 2024 converge to the conclusion that significant price reductions are coming.
This is contributed by the increased production of olives and olive oil in 2024 – as the harvest is in full swing in the olive oil producing countries of the Mediterranean – due to more favorable weather conditions in some areas, as well as the reduced demand for olive oil from consumers, who reacted to the huge increases in product prices by turning to increased consumption of other oils (seed oils).
As olivenews.gr specialized and reputable website writes, this week the selling prices of this year's extra virgin olive oil from producers and producer associations had a steep downward trend, although the buying and selling is at their initial stage and everything remains fluid for the future. It is likely that the increased production that will take place, as the harvest increases, will bring additional price reductions to producers, especially small and individual ones.
According to olivenews.gr, in Spain wholesale sales are made at prices from €5.80 to €6.0/kg, with a drop of about 13% within 2 weeks.
In Italy prices were around €8.50/kg and in Portugal €5.80/kg.
In Tunisia there is a price range from €4.80 to €5.20/kg and in Turkey €4.25/kg.
In Greece, prices are currently around €6 per kilo.
