1. Weekly News

Spain

Spain’s Olive Oil Market Shows Strong Recovery with Solid April Performance

Spain’s olive oil market continued its positive momentum in April despite the Easter slowdown, with total market exports reaching 140,650 tons—exceeding March figures and signaling recovery from previous low-output campaigns. Cumulative exits for the 2024/25 season now total 866,160 tons, showing solid growth into the seventh month. National production reached over 1.4 million tons by April 30, aligning with forecasts by Cooperativas Agro-alimentarias de España. April exports are estimated at 88,190 tons, with domestic consumption at 52,460 tons and imports steady at around 23,000 tons. Olive mill exits reached 113,882 tons this month, bringing the campaign total to 867,992 tons. Stocks in Spain dropped significantly to 881,940 tons—a decline of 114,139 tons from March—suggesting a potential carryover below 295,000 tons, a historically low level. Stocks held by Spanish mills reach 666,458 tons and packers hold 205,645 tons. These figures reflect strong market dynamics and renewed consumer confidence in Spain, according to Cooperativas Agro-alimentarias de España.

Andalusian Olive Oil Leads Agro-Food Exports to the Americas and Brazil

Andalusian olive oil dominates the American market as the top agro-food export, reaching approximately USD 1.38 billion, which accounts for 61% of the total and reflects a 49% increase. It is followed by fruit and vegetable preparations at around USD 273 million (12%, up 28.8%) and various food preparations at USD 83 million (3.6%, up 0.5%). Brazil ranks as Andalucía’s fifth-largest American market, accounting for 3.4% of sales, with exports totaling about USD 77 million—a 16% rise over 2024—placing Andalucía as Spain’s second-largest regional exporter to Brazil. In Brazil, olive oil leads with a record export value of USD 51 million, representing 67% of total food exports and a 25% year-over-year (YoY) increase. It is followed by fruits at USD 8.3 million, up 11.1%, and other food preparations at USD 7.8 million, down 8.3%.

Spanish Olive Oil Producers Seek New Markets Amid US Tariff Challenges

Spanish olive oil producers are actively exploring alternative markets in response to damaging United States (US) tariffs that threaten their profitability and global market share. As one of the world’s leading olive oil exporters, Spain has long relied on the US as a key destination. However, producers from Madrid express concern that these tariffs are increasing production costs and shrinking their market presence in the US. The uncertainty has already forced small and medium exporters to cancel orders or halt shipments. With rising costs and falling margins, the Spanish olive oil sector faces mounting pressure, prompting a strategic shift toward new international markets to sustain operations.

Spain Targets 4 Million Tons of Olive Oil Sales by 2040

The Agriculture Minister has announced that Spain has set an ambitious goal to commercialize 4 million tons of olive oil globally by 2040. This objective aims to build upon the current annual sales of approximately 3.5 million tons by enhancing production, expanding into new markets, and improving profitability across the entire value chain. Spain solidifies its position as the world's leading olive oil producer with 2.8 million hectares (ha) of olive groves, representing 24% of the global total. This season, its estimated production is 1.42 million tons, accounting for 40% of global output. The country’s exports have reached a historic value exceeding USD 6.5 billion, reflecting a stronger market presence despite a slight decrease in volume. The Agriculture Minister emphasized the strategic and cultural significance of olive oil for Spain, highlighting the importance of fair pricing and equitable value distribution to support farmers, who are considered the most vulnerable link in the supply chain.

2. Weekly Pricing

Weekly Olive Oil Pricing Important Exporters (USD/kg)

Yearly Change in Olive Oil Pricing Important  Exporters (W20 2024 to W20 2025) 

Italy

Italy’s wholesale extra virgin olive oil price in W20 was USD 10.54 per kilogram (kg), down 1.95% week-on-week (WoW) and 3.57% month-on-month (MoM) but still 2.23% higher than last year. The price remains supported by a 32% drop in the 2024/25 harvest due to drought, extreme temperatures, and pests like the olive fruit fly and Xylella fastidiosa. Strong international demand helps sustain prices despite recent declines. However, a new 20% US tariff on European Union (EU) olive oil imports adds uncertainty by increasing export costs and threatening market access. A temporary 90-day tariff pause offers some relief, but ongoing trade tensions may push prices higher in non-EU markets and increase reliance on intra-EU trade to stabilize demand.

Greece

Greece’s wholesale extra virgin olive oil price in W20 was USD 4.13/kg, declining 3.05% WoW and 6.98% MoM, with a sharp 57.07% drop YoY. This significant annual decrease reflects a strong production recovery after previous shortages that had pushed prices to record highs. Although production remains stable around 250,000 tons for the 2024/25 season, limited stock levels continue to restrict supply flexibility. As mid-2025 approaches, tightening availability alongside steady demand may soon slow the price decline and potentially lead to a rebound. However, the Greek olive oil market remains vulnerable to climatic changes, which could rapidly affect future prices and market stability.

Tunisia

Tunisia’s wholesale extra virgin olive oil price was USD 4.31/kg in W20, falling 4.22% WoW and 5.90% MoM, with a steep 50.46% decline YoY. This downward trend is driven by an oversupplied global market, fueled by strong harvest recoveries in major producing countries. Despite lower prices, Tunisia’s olive oil exports surged 85.3% YoY in the first quarter of 2025, largely due to increased bulk shipments. With global production rising to an estimated 3.1 million tons for the 2024/25 season—up from 2.5 million tons the previous year—price pressures are expected to continue throughout 2025.

3. Actionable Recommendations 

Diversify Export Markets Beyond the US

Given the challenges posed by US tariffs, Spanish producers should accelerate market diversification efforts, targeting growing regions such as Latin America (especially Brazil, where Andalusian olive oil exports rose 25% YoY), Asia, and emerging markets in Africa and the Middle East. Strategic market entry through partnerships, trade missions, and localized marketing campaigns can reduce dependency on the US and stabilize revenue streams.

Strengthen Branding Around Quality and Heritage

With Spain’s leadership in production and cultural significance of olive oil, producers and exporters should intensify branding focused on quality, traceability, and traditional farming methods. Highlighting the Andalusian origin and health benefits in export markets can increase consumer trust and willingness to pay premium prices, supporting margins despite price fluctuations.

Sources: Tridge, Agro Diario Huelva, Agro Digital, Financial Food, La Nueva España, Oli Merca