Olive oil: Prices are high globally, what happened in the AS Episkopi competition

Olive Oil

Portugal

Published Feb 3, 2024

Tridge summary

Despite a decrease in consumption in Mediterranean countries, international olive oil prices remain high in 2024 due to increased export demand. Prices vary across countries such as Spain, Italy, Portugal, Greece, and Tunisia, ranging from €8.79 to €10 per kilo. Meanwhile, A.S. Episkopis's olive oil distribution competition for 28 tons of last year's harvest was unsuccessful. The Greek Ambassador to Spain visited the International Olive Council (IOC) headquarters, expressing interest in strengthening relations and filling vacant administrative positions. The IOC is planning to focus its promotional efforts on California, Brazil, Australia, China, and Japan.

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Original content

International olive oil prices remain buoyant in the first month of 2024 for both extra virgin olive oil and lampade (refined). There is an increased demand for exports although in the Mediterranean countries consumption has decreased. In Spain, prices for extra virgin olive oil range from €8.79 per kilo, according to the Food Safety Information System (Poolred). In Italy, the average price for extra virgin olive oil is 9.60 euros per kilo, according to the Information Institute for Agri-Food Trade (ISMEA). In Portugal and Greece, according to the International Olive Council (IOC), prices range at 10 euros, while in Tunisia at 9 euros. A.S. Episkopis held, on Wednesday (January 31, 2024), an olive oil distribution competition. It concerned the disposal of 28 tons of last year's harvest extra virgin olive oil, 0.60% acidity. As a representative of the Cooperative told AgroTypos, "the competition was barren and we will do a new one towards the end of February. In the Episkopi region ...

Source: Agrotypos