Spanish Olive Oil Market Situation (October 2024)

The olive oil market has maintained its momentum despite low inventory levels at the end of the season and October rains that complicated olive harvesting.

Information provided by the Ministry of Agriculture and the Food Information and Control Agency shows that sales in the past month have reached nearly 83,809 metric tons, with imports under the TPA (Trade Promotion Agreement) adding another 20,000 metric tons.

This activity is a positive sign for the industry, as it demonstrates a strong market presence and exports. However, stocks at the mills are low, with only 52,920 metric tons, and packaging industries have 85,345 metric tons.

In October, 35,989 metric tons of olive oil were produced. It remains to be seen whether November production will increase to prevent completely depleting the reserves.

Olive oil prices at the source.

Olive oil prices in supermarkets.

Buying and selling olive oil wholesale (in bulk and bottled).