Olive oil in the EU: after the price shock, a further fall is on the cards
Better harvests in Spain and Greece are boosting supply. After a rise of around 78 per cent between 2021 and 2024, prices keep falling.
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Olive oil is likely to keep getting cheaper in the EU. The reason is the recovered harvests in Spain and Greece, Bulgarian news site Fakti.bg reported on 15 October, citing money.bg, the Greek trade portal cibum.gr and Euronews. According to the report, olive oil prices in the EU rose between 2021 and 2024 by around 78 per cent. In 2025 they fell by about 23 per cent, the first decline in four years.
According to the report, Spain saw the steepest price fall at 38.9 per cent. Its new harvest is expected to exceed 1.5 million tonnes, and around 400,000 tonnes of stocks were held at the end of August. Greece expects 300,000 to 330,000 tonnes. In the 2022/23 season, EU production had collapsed by 39 per cent from 2.27 to 1.39 million tonnes, triggering the price surge.
Producer buying prices for extra virgin olive oil currently stand at 3.70 to 3.90 euros per kilo, the report says, with a fall to around 3.50 euros expected. At the height of the crisis the price was around 9 euros. How quickly lower producer prices reach supermarket shelves depends on retailers and bottlers. The report does not give specific shop prices for Bulgaria or Germany.
This article is for information only and is not legal, tax, financial or medical advice. Figures as of the date stated.