Spain approaches the main harvest with a lower reference for lampante and its proposed market intervention still awaiting the rules for the new campaign. Elsewhere, the first Italian oils are establishing their prices, Greek growers are preparing demonstrations, and a stronger crop outlook in Cazorla adds to expectations of plentiful Spanish supply.
What happened this week
Spain awaits its marketing order
INFAOLIVA's daily reference for 22 October put Picual lampante at 2.80€/kg. Its listed extra virgin and virgin categories showed no completed transactions, leaving the board without a fresh closing price for those oils.[1]
The agriculture ministry has meanwhile confirmed that the marketing order for 2026/27 remains in preparation. Speaking at a cooperative industry meeting in Ciudad Real on Wednesday, director-general Elena Busutil said the measure was being processed. The announcement follows renewed demands from producer organisations for compulsory storage, but gave no withdrawal volume or activation date.[2]
First Italian oils at 4.70–5.30€/kg
In Monday's assessment, Teatro Naturale placed newly produced Italian oils at 4.70–5.30€/kg and the first Greek Koroneiki oils at around 3.90–4.30€/kg. Its quotation table still covered the previous crop, with Andria at 4.20€/kg. Analyst Marcello Scoccia also reported problems with high temperatures during early production and anticipated cooler conditions towards the end of October.[3]
Cazorla expects more than twice last season's olive crop
The Sierra de Cazorla protected designation reported on Thursday that the comarca could produce more than 250 million kilograms of olives, compared with 125 million last season. Rainfall has been almost double the previous year's level, supporting better fruit development. The council puts a more normal crop at 180–190 million kilograms, describing the current outlook as medium to high.
With oil accumulation in the fruit already well advanced, the council is encouraging earlier harvesting to protect quality and reduce exposure to winter weather. Last season's adverse conditions damaged fruit and left part of the crop unrecovered.[4]
Greek growers prepare Friday demonstrations
Growers' organisations have called protests in Tripoli and Lamia for Friday, 23 October, following a national olive producers' meeting in Stylida the previous weekend. Their demands include minimum guaranteed prices for olives and olive oil, compensation for lost income and measures to reduce production costs. The Lamia federation's statement also calls for stronger publicly supported olive fly control and investment in irrigation.[5]
Lower prices cut Andalusia's export receipts
Andalusian olive oil exports generated 2.326 billion euros between January and August, down 10.2% from a year earlier, according to figures released by the regional government on Tuesday. The region accounted for 71% of Spain's olive oil export value. Andalucía TRADE attributed the decline mainly to lower prices following a large harvest, underlining the pressure on turnover as oil becomes cheaper.[6]
Our read
Our reading remains that the approaching main harvest is more likely to keep standard oils under pressure than produce an immediate, sustained recovery. Spain's supply outlook gives buyers room to wait, while the early prices for fresh Italian and Greek oils apply to a market that is still developing. We would be cautious about extending those opening levels to the much larger volumes still to come.
The Spanish storage decision could alter that calculation. Its commercial significance will become clearer once sellers know the quantity involved, the timetable and the conditions for releasing the oil.
Sources
- INFAOLIVA: Daily origin-price reference, 22 October 2026.
- Olimerca: El MAPA tramita la orden de comercialización para el aceite de oliva, 22 October 2026; MAPA: Official agenda for Elena Busutil's participation in Ciudad Real, 21 October 2026.
- Teatro Naturale: Rilevazione prezzi dell'olio di oliva del 19 ottobre 2026, 19 October 2026. The page is updated over time; the figures above refer to this dated assessment.
- Olimerca: La DOP Sierra de Cazorla podría duplicar la producción de aceituna esta campaña, 22 October 2026.
- Ypaithros: Growers' mobilisation planned in Tripoli, 19 October 2026; STAR Central Greece: Fthiotida growers' statement and Lamia protest call, 21 October 2026.
- Junta de Andalucía: January–August 2026 export figures, 20 October 2026.