Spain: The price of extra virgin olive oil falls by 13% at source but only by 2.5% in supermarkets

The extra virgin olive oil market in Spain is showing mixed signs. While the price at source has registered a year-on-year decrease of 13%, in supermarkets the reduction has been much more moderate, reaching just 2.5%, according to a recent analysis. The average price of a litre of extra virgin olive oil in supermarkets was €12.50 in November 2023, while this year it has fallen to €12.18, which represents a reduction of €0.32/litre. Although the drop is significant considering the high price reached in recent years, it is insufficient compared to the drop at source, which has gone from €7.41/litre in November 2023 to €6.45/litre in the same month in 2024, a decrease of 13%. This change reflects the fluctuations of a market marked by volatility in recent campaigns. Virgin olive oil has also registered a significant decline at source, reducing its price from €6.54/litre a year ago to €5.86/litre in November 2024. FACUA-Consumidores en Acción has denounced this difference in margins, ...