IOC: Extra virgin olive oil prices in Spain, Italy, Tunisia and Greece

Extra virgin olive oil prices

The International Olive Council (IOC) presented the average international prices of extra virgin olive oils. According to data released by IOC the producer prices of Tunisia ranked third after those of Italy and Spain, from March to May 2015.

Spain

Specifically in mid-May 2015 in Spain the producer price came up to 3.56 euros per kilo, which represents the highest price of the season. The last week of the month, prices reduced to 3.51 euros. That price is increased by 78% compared to the respective price of the previous year (last week of May 2014).

Italy

At meantime, at the end of March 2015 in Italy the olive oil prices were at 6.01 euros per kilo. Then they reduced and at the end of May they fell to 5.83 euros, which is increased by 61% compared to that of previous year.

Tunisia

In Tunisia prices have been rising from the first week of January 2015. At the end of March they amounted to 3.03 euros per kilo. Afterwards some fluctuations in the prices occurred and at the end of May, prices reached 3.43 euros per kilo, that is increased by 50% compared to the same period in the previous year.

Greece

In Greece in late March the average producer price was at 2.94 euros per kilo. There has been an increasing trend in price that succeeded to reach 3.09 euros the last week of May, which represents an increase by 24% compared to the previous year. According to AgroTypos’s reportage current olive oil prices in Greece range between 3 and 3.5 euros per kilo.

International trade

Regarding international trade, according to an analysis of the available updated data from the IOC, olive oil imports were higher by 9% in Japan in relation to the previous year (there was a sharp increase in imports in March 2015), 5% in Brazil, 2% in the USA (where the rise in imports in February 2015 replaced the occurred fall in December 2014 and January 2015) and 1% in China. On the contrary, imports were reduced in Russia (-14%) due to the interruption of imports from December of 2014, in Australia (-10% since November 2014) and in Canada (-7%).

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