Overview

• Extra virgin olive oil origin prices in Spain now average €3.72/kg, down significantly from the €9/kg peak in early 2024.
• Retailers like Alcampo are offering 5-liter jugs of olive oil at €3.99/L, marking a notable decline in consumer prices.
• The Ministry of Agriculture reports a 52% drop in extra virgin olive oil prices compared to last season and a 19.6% decrease versus the two-year average.
• The central government reduced VAT on olive oil to 4%, following a temporary 0% rate introduced in July 2024 to address price spikes.
• Current prices remain above the historic lows of 2020 (€1.8/kg) but are well below the record highs of 2024, improving affordability for consumers.