Olive Oil Prices Today

Olive oil prices are shaped by a complex interplay of harvest conditions, currency movements, and global demand. As of March 2026, the market remains in a period of elevated but stabilising prices following two consecutive below-average harvests across the Mediterranean basin.

Current Price Ranges (March 2026)

Extra virgin olive oil (EVOO) from Spain is trading in the range of €4.00-4.50/kg at origin, while Italian EVOO commands a premium at €7–€7.5/kg. Greek extra virgin continues to offer competitive pricing at €4.3/kg.

Portuguese EVOO prices have stabilised after sharp increases in 2024/25, currently sitting around €4.2/kg for alentejo and €4.5/kg for Trás-os-Montes.

What's Driving Prices Right Now

The primary driver of current olive oil prices is supply — specifically, the cumulative effect of reduced harvests in Spain (the world's largest producer) over 2023/24 and 2024/25. In 2025/26 we saw a recovery and inventories have stabilised.

On the demand side, olive oil consumption has proven resilient despite price increases, with consumers in key markets like the US, Brazil, and Germany maintaining purchase volumes. However, there are early signs of trade-down to lower categories (virgin vs extra virgin) in price-sensitive markets.

Price Outlook

Short-term price direction will depend heavily on the evolution of the Iberian spring weather. A dry March-April period in Andalusia could begin affecting next season's flowering, adding upward pressure. Conversely, any positive harvest signals from Spain could trigger a correction.

OliveTerm's monthly reports track these movements in detail — combining lagar-level data with international trade flows for a complete picture.