The most representative olive oil markets in the European Union are in Bari, Italy, Chania, Greece, and Jaén, Spain. They account for more than 60% of global olive oil production. Prices in these three countries, particularly Spain, have an impact on other producing countries, particularly the oils they intend to export.
Refined olive oil prices in Jaén, Spain, were 292.7 EUR/100kg in January 2022, up 51.7% from the same period the previous crop year.
During this time, the average price of extra virgin olive oil per 100kg was around 419.6 EUR in Bari, Italy. The maximum and minimum prices per 100kg were 614 EUR and 221 EUR respectively.
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.
Procurement Resource provides prices of Refined Olive Oil for several regions around the globe, which are as follows:
About Refined Olive Oil:
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.
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.
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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).