Origin prices eased across the board going into the 2026/27 campaign. Spain put its first national crop estimate at 1.6 million tonnes, EU imports from outside the bloc rose by almost half, growers in Puglia sought help with unsold stocks and a US test put extra virgin quality back in focus.
The week in numbers
OliveTerm origin price board, latest values dated 29 September (€/kg)
| Market | Price | One week |
|---|---|---|
| Spain extra virgin | 3.35€ | −0.6% |
| Spain virgin | 3.15€ | −0.6% |
| Spain lampante | 2.98€ | −0.7% |
| Italy extra virgin | 4.76€ | −0.2% |
| Portugal extra virgin | 3.63€ | −0.6% |
| Greece extra virgin | 3.52€ | −0.6% |
| Tunisia extra virgin | 3.65€ | −0.8% |
All seven origins on the board eased over the week, by between 0.2% and 0.8%. Spanish extra virgin closed at 3.35€/kg, 0.37€/kg above lampante, the same gap as a week earlier.
What happened this week
Spain puts the new crop at 1.6 million tonnes
Spain's agriculture ministry put 2026/27 olive oil production at 1.60 million tonnes in its first national estimate on Thursday, 23% above the previous campaign. The total includes 1.26 million tonnes from Andalusia. The forecast remains provisional and dependent on the coming weeks' weather and oil yields. It provides a starting point for the campaign without establishing a particular price outcome.[1]
EU imports rise by almost half
The European Commission's market update, published on 30 September, puts EU olive oil imports from outside the bloc at 232,793 tonnes between October 2025 and July 2026, up 48.8% on the same period a year earlier. Tunisia supplied about 78% of that volume. EU exports to non-EU markets totalled 626,775 tonnes, a marginal decline of 0.4%. These are provisional volume figures for olive oil, excluding olive-pomace oil.[2]
The export total conceals substantial differences between destinations. Shipments to the United States fell 12%, while Brazil took almost 30% more. Growth in some markets has compensated for weaker trade in others, with little expansion overall. The figures do not establish how much imported oil was consumed in the EU or subsequently re-exported.[2]
Another warning from Puglia
Coldiretti Puglia said on Wednesday that stocks of Italian-origin extra virgin olive oil held in the region reached about 38,695 tonnes on 23 September, compared with 7,030 tonnes on 30 September 2025. The comparison uses slightly different dates within September and concerns a specific origin and grade held in Puglia.[3]
The organisation is seeking regional talks with banks and major retailers to address both financing and sales. Mills need cash to buy olives and pay growers while earlier production remains in storage. Access to credit can give them more time to sell, although it leaves the underlying need to find buyers unresolved.[3]
At EU level, Monday's Italian request to mobilise the agricultural reserve met a cautious response. Agriculture Commissioner Christophe Hansen said the reserve should be a last resort in a serious EU market imbalance. His remarks gave the sector little basis for assuming that exceptional support would be available immediately.[4]
US testing puts extra virgin quality in focus
ConsumerLab published results on Wednesday from a comparison of 11 olive oils sold as extra virgin. It reported that all 11 met the chemical requirements in its testing, but an accredited tasting panel found defects in three that disqualified them from the extra virgin grade.[5] This small product comparison cannot establish a failure rate for the wider market, and a sensory defect does not by itself demonstrate adulteration.
California's grading and labelling standards for the 2026/27 season took effect on 1 October. They apply to commercial operators processing and/or marketing at least 5,000 US gallons of California olive oil, approximately 18,900 litres, during the year from 1 July to 30 June. For extra virgin, the requirements include a maximum free acidity of 0.5%, a median sensory defect score of zero and detectable fruitiness, alongside other quality and purity tests. Labels must identify the lot and carry a best-before date supported by technical evidence that the oil can retain its stated quality when stored as directed.[6]
Sources
- MAPA: First Spanish olive oil production forecast for 2026/27, 1 October 2026.
- European Commission: Market situation for olive oil and table olives, 30 September 2026, slides 10 and 15. Publication page.
- ANSA: Coldiretti Puglia's inventory warning, 30 September 2026; AndriaLive: Stocks, banking and retail proposals, 1 October 2026. Figures and requests attributed to Coldiretti Puglia.
- ANSA: Hansen's response to Italy's agricultural-reserve request, 28 September 2026.
- ConsumerLab: Results of its comparison of 11 olive oils, 30 September 2026. Reporting is based on the organisation's public release.
- California Department of Food and Agriculture: 2026–2027 Grade and Labeling Standards, effective 1 October 2026. Scope: section 1; quality parameters: Table 1; lot identification and date labelling: sections 11.3.8–11.3.9.