Movements in the prices paid to producers for extra virgin oil

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Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin oil in the three top EU producing countries and in Tunisia, while graph 3 shows the weekly changes in the producer prices for refined olive oil in the three main EU producers.

The monthly price movements for the same two grades of oil are given in Graphs 2 & 4.

Extra virgin olive oil
– Producer prices in Spain over the last few weeks increased steadily to reach €3.64/kg at the end of January 2017, which was an 10% increase compared to the same period the previous year. If we compare this price with the maximum price in the third week of August 2015 (€4.23/kg), it presents a 14% decrease (Graph 1).

Italy – Producer prices in Italy began rising in mid-August, speeding up in the first week of November, when they broke the €5 barrier, and coming in at €5.90/kg at the end of January 2017, for a 70% year-on-year increase. Graph 2 shows the trend in monthly prices for the extra virgin olive oil category in recent campaigns.

Greece – The prices in Greece from mid-August to the end of October remained stable but, as in other markets, they then increased at the end of January 2017 to reach €3.46/kg at the end of January 2017, which is a 17% increase compared to the same period the previous year.

Tunisia – Prices in Tunisia, following some weeks of relative stability, increase as of the third week of January, coming in at €3.88/kg at the end of January 2017 for a 18% year-on-year increase.

Refined olive oil: The producer prices for refined olive oil in Spain and Italy generally follow the same trend as the prices for extra virgin olive oil. In period the previous year and in Italy they on-year increase. No price data are available for this product in Greece.

At the end of January 2017, the price (€3.64/kg) was of €0.10/kg. In Italy the price difference between the two categories was greater at 3.

Spain, they came in at €3.54/kg, which was a 1 hey came in at €3.62/kg, at the end of January 2017 difference in Spain between refined olive oil, 11% increase on the same
2017, which was a 15% year refined (€3.54/kg) and extra virgin oil€2.28/kg (Graph3)

Source: International Olive Council MARKET NEWSLETTER No 112 – January 2017

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