Price at source for Spanish oil in March were 20% higher than the previous year; In Italy, 73%

Oil prices in Spain in recent weeks continue to increase steadily, although they have slightly declined in the last week, ending at the end of March 2017 at € 3.84 / kg, a + 20% increase over the same period Year, as reported by the IOC (International Olive Council) in its last bulletin. If we compare this price with the maximum value of the third week of August 2015 (4.23 € / kg) has a decrease of -9%.

In Italy, and according to the same source, the prices at the beginning of the oil from mid-August begin an upward trend that has not stopped ceasing and that in mid-February 2017 broke the barrier of 6 euros / kg to the end March 2017 (€ 6.14 / kg), representing an increase of + 73% compared to the same period last year.

Prices in Greece from mid-August to the end of October were stable but as in the rest of the markets they rose until the end of November and, despite being stable during the last months, again in the middle of March, they rise again at the end of March At € 3.56 / kg, an increase of 21% over the same period of the previous year.

Prices in Tunisia after a few weeks of some stability increase from the third week of January and breaking the barrier of 4 euros, standing at the end of March 2017 at 4.15 € / kg which represents a + 28% increase In the same period of the previous year.

Origin prices of refined olive oil from Spain and Italy generally show the same trend as those from the extra virgin category. The price in Spain is at the end of March 2017 at € 3.73 / kg with a variation of + 28% compared to the same period of the previous year. In Italy it reaches € 3.84 / kg, which represents an increase of + 26% over the previous period.

For Greece there is no data available for this product category. The difference at the end of March 2017 between the price of refined olive oil and extra virgin olive oil in Spain is 0.09 € / kg while prices of the extra virgin category are at levels of € 3.84 / Kg refining prices are at € 3.75 / kg. In Italy the difference between the two categories of oil is greater than in Spain with a variation of 2.30 € / kg.

Autor entrada: Francisco Camacho