Olive oil prices are declining significantly in European Union countries
Brussels, February 16 / WAM / Olive oil prices in European Union countries recorded a noticeable decline during the year 2025, after several years of record highs that peaked between 2022 and 2024, as a result of the return of production levels to their usual rates following severe heat waves and drought that negatively affected crops in southern Europe.
Eurostat data showed that olive oil prices for consumers rose by about 78% overall during the period 2022-2024, before recording their first decline in four years in 2025 by 23% at the European Union level, with more severe declines in a number of major producing countries.
Previous price increases were due to lower production due to extreme weather conditions and declining inventories. Mariana Matos, Secretary General of the Portuguese Olive Oil Producers Association “Casa do Azit,” said, “The only way to control the market was to raise prices,” according to what was reported by European media.
For its part, the International Olive Council indicated that the European Union’s production of olive oil declined by 39% in the 2022/2023 season compared to the previous season, before gradually recovering. Preliminary estimates show that the 2024/2025 season may witness a significant increase in production to reach about 2.11 million tons, with a slight decline expected in the subsequent season.
A Council spokesman explained that supply fluctuations are directly reflected in prices, whether they rise or fall, noting that Spain, the largest producer of olive oil in the European Union with more than 65% of production last season, recorded the largest decline in prices during 2025, followed by Greece and Portugal.
Among the four largest European producers (Italy, Spain, France, and Greece), France witnessed the smallest decline in prices, while Italy and Germany recorded larger declines. In contrast, prices rose in countries such as Albania and Romania.
Rafael Pico Acevedo, director of the Spanish Olive Oil Exporters Association “Asoliva,” attributed this decline to the clear improvement in production for the 2024/2025 season, especially in southern Europe, explaining that price differences between countries reflect their position in the value chain, as the major producing countries are more quickly affected by the increase in supply.
Pro/Z/WAM
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