1. Weekly News

Iraq

Iraq Rejoins the International Olive Council

On January 21, Iraq officially confirmed its intention to rejoin the International Olive Council (IOC) by submitting a formal note to the Executive Director. By adhering to the 2015 International Agreement on Olive Oil and Table Olives, Iraq aims to align with global standards and boost its emerging olive sector. The IOC will support Iraq with technical expertise and industry integration, fostering sustainable production and market growth. This move strengthens Iraq’s agricultural positioning and enhances international cooperation in the olive oil industry.

Spain

Andalusia Achieves Record Olive Oil Exports, Led by Jaén and Seville

Andalusia's olive oil exports reached a historic high of USD 4.42 billion (EUR 4.25 billion) from Jan-24 to Nov-24, marking a 43% increase and solidifying it as the region’s top export at 11.5% of the total. Jaén recorded a 9.5% rise, generating USD 1.36 billion (EUR 1.31 billion), while Seville led provincial growth with a 19.8% increase, contributing significantly to both Andalusian (4.2%) and Spanish (0.4%) exports. Other notable increases came from Granada with a 14.2% increase, reaching USD 1.64 billion (EUR 1.58 billion) and Córdoba with a 13.8% rise, reaching USD 3.19 billion (EUR 3.07 billion). Overall, Andalusia maintained a strong trade surplus, with Seville posting the highest at USD 2.97 billion (EUR 2.86 billion).

Catalan Olive Oil Producers Urge Government Support Amid Climate Challenges

The Regulatory Council of the Protected Designation of Origin (PDO) Siurana, alongside other Catalan olive oil PDOs, presented their concerns to the Catalan Parliament, highlighting a 50% drop in production over the past three years due to drought and climate change. Producers emphasized the urgent need for water availability to sustain olive farming, generational renewal, and stricter regulation of bottled oil in the restaurant sector. They also called for better labeling, funding for promotional campaigns, and the establishment of academic programs in olive oil technology. The meeting received cross-party support, underscoring the vital role of olive cultivation in sustainability, biodiversity, and the Mediterranean diet.

Tunisia

Tunisia's Olive Oil Exports Grow in Volume but Drop in Value

Tunisia exported 42,000 metric tons (mt) of olive oil in the first two months of the 2024/25 season, up 7.4% in volume but down 30.6% in value compared to the previous season, totaling USD 212 million (TND 683.9 million). The average price dropped 35.4% to USD 5.05 per kilogram (TND 16.27/kg) from USD 7.81/kg (TND 25.19/kg) in Dec-23. The top export markets were Italy with a 32.4%, Spain with a 27.3%, and the United States (US) with a 13.3%.

Turkey

Turkey Expects Record Olive Oil and Table Olive Production in 2024/25

Turkey anticipates a record-breaking 2024/25 harvest with 475,000 mt of olive oil and 750,000 mt of table olives, according to the Turkish National Olive and Olive Oil Council. Early drought conditions delayed harvesting, but Nov-24 rains improved fruit size and quality. Low olive fly activity further boosted yields. With an additional 100,000 to 150,000 mt in stock, Turkey aims to increase both domestic consumption and exports, leveraging competitive pricing to expand its market presence.

Uruguay

Uruguay’s Olive Oil Sector Expands with Strong Export and Domestic Growth

Uruguay's olive oil industry is poised for growth, driven by young groves reaching peak production and increasing demand for healthy products. The 2024/25 outlook remains optimistic, contingent on favorable weather conditions. Uruguay is gaining ground in export markets like Brazil and the US while maintaining Spain as a key buyer. Innovation and research are essential to enhancing product value and resilience against economic and climate challenges. With 6,000 hectares (ha) of olive groves, domestic production now supplies about half of national consumption, despite setbacks from the 2023 drought.

2. Weekly Pricing

Weekly Olive Oil Pricing Important Exporters (USD/kg)

Yearly Change in Olive Oil Pricing Important Exporters (W4 2023 to W4 2024)

Spain

The sharp decline in Spanish olive oil prices, dropping 54% year-on-year (YoY) from USD 9.76/kg in W4 2024 to USD 4.49/kg in W4 2025, can be attributed to several factors. Over the past week, prices fell by 2.18% week-on-week (WoW), reflecting the continuing pressure from the oversupply in the market. Month-on-month (MoM), prices dropped by 1.75%, signaling a gradual correction from the earlier price increases in 2024. First, the Spanish government reduced the value-added tax (VAT) on olive oil from 10% to 4% in early 2024, stabilizing the market after drastic price hikes. Additionally, the current season has seen an increase in supply due to favorable harvests, and global olive oil production is also stabilizing. Finally, while regions like Catalonia have faced production drops due to climate challenges, the overall market remains stable due to increased production across Spain and globally.

Italy

Italian olive oil prices showed a 1.46% WoW increase in W4, reaching USD 9.74/kg, reflecting a market adjustment after the sharp drop in W3 2025. However, prices declined 14.93% MoM and 8.37% YoY, driven by improved supply conditions. The price earlier in the year remained high, particularly due to excessive heat, which disrupted olive production and reduced yields. As winter set in, olive yields in Italy and other key producing regions began to recover, boosting overall supply and easing price pressures. Additionally, Italy's high export volumes have contributed to downward price trends, while global olive oil supply continues to stabilize, further reinforcing the decline in prices.

Portugal

Portugal’s olive oil prices saw a 2.98% WoW increase in W4, reaching USD 7.60/kg, while MoM prices remained relatively stable with a slight 0.26% rise. These short-term fluctuations reflect the early stages of the olive harvest, which began late in 2024, with production gradually picking up. In the near term, prices are expected to continue fluctuating as supply stabilizes. However, YoY prices have dropped by 32.44%, driven by higher global production this season compared to last year, leading to an overall decline in prices as the market adjusts to improved supply conditions.

Greece

Greece’s olive oil prices rose by 3.29% WoW in W4 to USD 4.71/kg, with a 3.97% MoM increase as the market adjusted after the low of W2 2025. This recent recovery reflects improved supply conditions following a tight period over the past six months. However, YoY prices remain significantly lower, down 52.62%, due to increased global production and concerns over olive oil adulteration, which has impacted both pricing and the reputation of Greek olive oil. Despite recent gains, the market remains cautious as it continues to stabilize.

Tunisia

Tunisia’s olive oil prices rose by 6.19% WoW in W4 to USD 4.12/kg but remained 4.19% lower MoM, reflecting ongoing market volatility. Prices in Tunisia are lower than in other producing countries, maintaining pressure on the market. While supply has now stabilized, exports are increasing, further influencing pricing trends. However, global market pressures continue to drive prices down, reducing the value of Tunisia’s olive oil exports despite higher export volumes. The Tunisian market remains sensitive to international trends, with fluctuating prices expected in the near term.

3. Actionable Recommendations

Capitalize on Premium and Organic Segments for Higher Margins

With increasing consumer preference for organic and high-quality olive oil, producers should obtain certifications and position their products in premium categories. Branding efforts should emphasize health benefits, authenticity, and origin protection to differentiate from lower-cost competitors.

Strengthen Supply Chain Transparency and Quality Control

Rising concerns over olive oil adulteration and fraud highlight the need for better traceability systems. Producers should implement blockchain-based tracking, stricter labeling regulations, and third-party quality certifications to ensure authenticity and build consumer trust.

Invest in Drought-Resistant Cultivation and Water Management

Climate change continues to challenge production, particularly in Southern Europe and North Africa. Farmers should adopt water-efficient irrigation techniques, invest in drought-resistant olive varieties, and explore alternative water sources such as desalination and wastewater recycling to sustain yields during dry seasons.

Sources: Tridge, 24, Alfallahalyoum, Oleo, Oli Merca