Refined olive oil: In Spain, the producer prices for refined olive oil, like those for extra virgin, have recently started to climb and reached €2.58/kg by the end of August. This is 4 pc higher than the level at the same point in 2012/13 and gives the impression that there is not enough virgin olive oil for refining. In Italy, prices have been moving in parallel with prices in Spain, although with a peak in the third week of January (€2.83/kg), after which they fell to €2.45/kg by late August 2014, translating into a period-on-period decrease of 4 pc which surprisingly places them at a lower level than in Spain. No price data are available for this product category in Greece.
At the end of August 2014, the price of refined olive oil and extra virgin olive oil in Spain differed by €0.08/kg with €2.66/kg being paid for the first category and €2.58/kg for the second. In Italy, the difference in price between the two categories is strikingly much wider than in Spain and works out at €1.58/kg (Graph 3).
IOC MARKET NEWSLETTER
No 85 – July/August 2014