Refined Olive Oil Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Refined Olive Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Refined Olive Oil Price Trend for the Second Half of 2023

Refined olive oil prices majorly vacillated at the higher end of the curve during the said period of H2’23. Several Mediterranean countries suffered dry weather and drought, while the production reports from Southern Europe were also skimping.

Refined Olive Oil Price Trends

Especially around September and October, the refined olive oil prices skyrocketed; in Turkey, the prices estimatedly rose 14 folds. Due to this astonishing rise in the prices, there was a slight dip in demand witnessed during November and December, but the strict supply restrain in the global markets kept the prices soaring. These historical falls in production are attributed to adverse climate changes and are projected to rise even further.

Analyst Insight

According to Procurement Resource, despite the existing havoc in the Refined Olive Oil industry, the price trends are likely to rise even further going forward. The market dynamics are all disturbed, and the current supply crunch will continue to drive the price trend.

Refined Olive Oil Price Trend for the First Half of 2023

Refined Olive Oil prices directly depend on the feedstock olive oil prices and the annual olive production. As Refined Olive Oil is a staple food product consumed across the globe, demands are usually steady.

In the first half of 2023, the Refined Olive Oil prices remained on an inclined trajectory. Y-o-Y olive oil production fell in the biggest producing and exporting nation of Spain, responsible for almost half of the global olive oil production by a whopping 55%, creating an extremely stressful condition for the Refined Olive Oil market. Rising temperatures and climate changes because of constant global warming resulted in such strikingly low production.

So, because of such stressed supplies and curtailed supply chains, the Refined Olive Oil prices grew contiguously in the period under discussion. Overall, a steep growth in the Refined Olive Oil price trend was observed.

Analyst Insight

According to Procurement Resource, Refined Olive Oil prices are expected to grow further in the upcoming months since the production is being drastically affected by the adverse climate changes. Even lower production yields are projected.

Procurement Resource provides latest prices of Refined Olive Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Refined Olive Oil is the olive oil derived from virgin olive oils through the refining methods that do not lead to alterations in the initial glyceridic structure. It has a free acidity, expressed as oleic acid, of no more than 0.3 grams per 100 grams. Refined oil is generally tasteless, odourless and colourless. Many countries deem it to be unfit for human consumption, not due to safety concerns, but due to poor flavour.

Product Details

Report Features Details
Product Name Refined Olive Oil
Synonyms 8001-25-0, Olea europaea l. fruit oil
Industrial Uses Baking, Sautéing, Grilling and frying, Pharmaceuticals, Soap, Cosmetics
Supplier Database Borges Agricultural & Industrial Edible Oils, S.A, The Sovena Group, Industrie Olearie F.lli Rubino SpA
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes 
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Refined Olive Oil via Refining of Virgin Olive Oil

Refined Olive Oil is the olive oil obtained by refining any grade of virgin olive oil, which is extracted by crushing olives, the fruit of Olea europaea, with the help of an edge runner mill.

No solvents are used to extract the Refined Olive Oil, but it is refined with the help of charcoal and other chemical and physical filters. The refining process removes colour, odour and flavour from the olive oil and leaves behind a very pure form of oil that is extremely low in free fatty acids.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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