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Welcome to the IOC, the only intergovernmental organization in the world to bring together all the stakeholders involved in the production and consumption of olive oil and table olives.
Here you’ll find an overview of the latest sector statistics, including an update on olive oil prices, trends in international trade in olive oil and table olives, and producer prices for olive oil.
Follow us and visit our website to be up to date with the latest data! Don’t hesitate to send us an e-mail if you have any questions (iooc@internationaloliveoil.org).
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OLIVE OIL PRICES
The price of extra-virgin olive oil (EVOO) in Jaén (Spain) fell by 21.3% in April from the peak experienced in January that reached €902.5 per 100 kg.
The latest figures for mid-April show that the producer price for EVOO in Jaén was €710 per 100 kg (+36.1% on the same period last year). In Bari (Italy), the price of EVOO was €968 per 100 kg at the beginning of April (+60%).
Graph 1: Monthly price trends for EVOO
In February of the 2023/2024 crop year, the unit value of extra-EU olive oil exports from the European Union was €951.0 per 100 kg (+61.6% on the same period of the previous crop year, or +7.8% on the previous month).
Graph 2: Monthly trends in unit value and volume of EVOO exports from the EU.
The unit value index for extra-EU olive oil exports was 307.5 (+70.7% on the same period last year, or +7.8% on the previous month).
Graph 3: Evolution of the unit value index for extra-EU olive oil exports.
On the demand side, the harmonized consumer price index (HICP) for olive oil in the EU rose by 52.4% in March compared to the same month last year, and by 2.7% compared to February.
Graph 4: HICP trends for olive oil in the EU-27. Rate of change (m/m-12) (%).
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WORLD TRADE IN OLIVE OIL AND TABLE OLIVES
- OLIVE OIL – 2023/24 CROP YEAR
Trade in olive oil and olive-pomace oil on the markets listed in the table below during the 2023/24 crop year (October 2023 – February 2024) is down 45% in Australia, 34% in Brazil, 7% in Canada, 64% in China, 34% in Japan and 9% in the US, compared with the same period of the previous crop year.
In terms of EU trade during the 2023/24 crop year, intra-EU purchases up to January were down 36%, while extra-EU imports up to February were up 26% on the same period of the previous crop year.
Table 1: Olive oil imports (including olive-pomace oils) (t)
- TABLE OLIVES – 2023/24 CROP YEAR
Trade in table olives for the 2023/24 crop year* (September 2023 – February 2024) on the markets listed in the table below shows a 6% drop in Brazil and a 13% drop in the US compared to the same period of the previous crop year. Conversely, imports rose by 1% in Australia and 3% in Canada.
In terms of EU trade in table olives during the 2023/24 crop year, intra-EU purchases up to January fell by 25%, while extra-EU imports up to February rose by 56% compared to the same period in the previous crop year.
Table 2: Table olive imports (t)
*According to the 2015 International Agreement on Olive Oil and Table Olives, in force since 1 January 2017, a “table olive crop year” is defined as the twelve-month period from 1 September of any one year to 31 August of the following year.
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PRODUCER PRICES – OLIVE OILS
- Monthly trends in EVOO prices are shown in graph 1:
Spain – the producer price for this category was €7.1/kg during the week of April 8-14, 2024, an increase of 36.1% on the same period of the previous crop year.
Italy – The price of EVOO was €9.68/kg during the week from April 1-7, 2024, an increase of 60% compared to the same period last year.
Greece – The producer price for EVOO reached €7.4/kg during the week of April 8-14, up 51% on the same period last year.
Tunisia – EVOO traded for €8.3/kg in the last week of March 2024.
Graph 1: Monthly price trends for EVOO
- Refined olive oil: The producer price for this category was €6.6/kg in Spain during the week of April 8-14, 2024, an increase of 37.2% on the same period of the previous crop year.
The difference between the price of EVOO (€7.1/kg) and refined olive oil (€6.6/kg) was €0.5/kg in Spain.
