César Lumbreras: Oil, Two Realities

The average price of extra virgin olive oil is much more expensive in Italy than in Spain, according to the latest data provided by the European Commission as of May 28. Specifically, in our country it was 392.1 euros per 100 kilos, which represented a cut of 49 percent compared to the previous year's figures; meanwhile, in Italy the average price was 955.3 euros, which is more than double that of Spain. Finally, in Greece the average quotation was 405.3 euros per 100 kilos. In the case of virgin oil, Spain was also the member state where it was cheapest, trading at 332.9 euros, with a loss of 52 percent compared to a year ago; in Greece it reached 347.5 euros and in Italy it reached 682 euros. On the contrary, in the last category, lampante oils, the highest price is precisely that registered in Spain, with 298.1 euros per 100 kilos, accumulating an annual decline of 54 percent; in Greece it reached 256.7 euros and in Italy the lowest figure was recorded in this case, with an ...