Olive Oil Prices Drop from €9.3 to €3.9 Amid Market Decline

The global olive oil market has experienced stability after years of sharp fluctuations, as oil prices have significantly declined from a record high of around 9.3 euros per kilogram in January 2024 to approximately 3.9 euros, representing a decrease of about 58%. This improvement is attributed to expectations of a strong harvest resulting from better production conditions, including favorable rains in major producing countries such as Spain. This boosts supply balance and increases consumer demand, especially in major markets like the United States. With the market stabilizing, companies anticipate demand and prices to return to more stable levels, although risks remain due to climate change and pests that could impact olive tree productivity in upcoming seasons.

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