For the first time, Spanish olive oil surpasses Italian olive oil in price on the US market

Spanish olive oil has surpassed Italian olive oil for the first time in the average sales price on the US market: in the first half of the year it was sold at 8.81 euros/kilo compared to 8.62 euros/kilo for olive oil from Italy. The Spanish Olive Oil Interprofessional Association has stated that this is a "historic turnaround" and of "significance", taking into account that "the United States has traditionally been a market dominated by oils from Italy" which have been its historical "reference". In a statement, the organization announced this achievement on Tuesday and recalled that a decade ago Spanish olive oils reached this market at a price around 25% lower than Italian ones. In fact, in years such as 2019 this differential exceeded 30%; Last year the price gap narrowed to just over 7% and the trend has been reversed in 2024. In terms of volume, Spain has sold 20.50% more olive oils in the first half of 2023, up to 70,000 tonnes, 10,000 more than Italy. These higher sales at ...