Global olive oil prices are predicted to decrease significantly in 2025, following two years of record-high retail prices, according to industry experts.
The anticipated price drop is attributed to improved weather conditions in Mediterranean olive-producing regions leading to increased yields in 2024, coupled with reduced consumer demand as shoppers switched to alternative cooking oils in response to soaring prices.
According to website olivenews.gr, wholesale prices for this year’s extra virgin olive oil have already begun declining sharply. Current prices per kilogram vary across major producing countries:
- Spain: €5.80-6.00, down approximately 13% in two weeks
- Italy: €8.50
- Portugal: €5.80
- Tunisia: €4.80-5.20
- Turkey: €4.25
- Greece: Around €6.00
Industry analysts suggest that as harvesting continues and production volumes increase, prices could fall further, particularly affecting small-scale and independent producers.
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