Graph 1 tracks the weekly movements in prices paid to producers for extra virgin olive oil in the top three European producing countries and Tunisia, while Graph 3 shows the weekly changes in producer prices for refined olive oil in the main three EU producers. The monthly price movements for these grades of oil are tracked in Graphs 2 and 4.
Extra virgin olive oil – Producer prices in Spain increased at a constant rate over the last few weeks coming in at €3.37/kg at the end of November 2016, which is a 10% year-on-year increase. If we compare this price with the maximum amount for the third week in August 2015 (€4.23/kg) it shows a 20% decrease (Graph 1).
Italy – Producer prices in Italy started to climb at the beginning of August, intensifying at the beginning of November and breaking the €5 barrier at €5.75/kg at the end of November. This is a 70% year-on-year increase.
Graph 2 shows how the monthly prices of extra virgin oil behaved in recent crop years.
Greece – Prices in Greece remained stable from mid-August until the beginning of November but, as in other markets, started to climb in recent weeks to come in at €3.46/kg at the end of November 2016, which is a 21% year-on-year increase.
Tunisia – The prices in Tunisia had remained stable over the last few weeks, but then started to climb up to €3.68/kg at the end of November, which is a 12% increase compared to the same period the previous year.
Refined olive oil: The prices of refined olive oil in Spain and Italy generally follow the same trend as the price of extra virgin olive oil. In Spain, they came in at €3.25/kg, which was a 10% increase on the same period the previous year. However, while prices for virgin oils in Italy rose in recent weeks, refined olive oil remained stable, coming in at €3.21/kg at the end of November, whereby there is no year-on-year change.
No price data are available for this product category in Greece. At the end of November 2016 the price of refined oil (€3.25/kg) and extra virgin oil (€3.37/kg) differed by €0.12/kg.
In Italy, the difference in price between the two categories is wider than in Spain at €2.54/kg (Graph 3).
Producer Prices - Olive Oils,