Increase of 1 euro per liter in six weeks
Prices for olive oil have surged sharply, reaching levels not seen for years. Across many shelves, the cost has risen by roughly 130 percent compared with the period before the surge tied to the Ukraine conflict. This dramatic jump has altered consumer expectations and has put olive oil in the spotlight as a staple that many households in Malaga and beyond feel is being priced out of reach. Industry spokespeople describe the situation as a turning point for a product long regarded as essential in households and kitchens.
Retailers report stock shortages where items are not automatically available and must be requested from cashiers. This unusual scene is not helping the market, says Baldomero Bellido, president of Asaja in Malaga. Looking ahead, he notes that the harvest has moved forward, but oil yields are not meeting expectations, leaving uncertainty about future supply and pricing.
Farmers weighing options often say they hope for higher prices to cover their costs, while buyers hesitate to commit to large purchases. The result is a cautious market with only small quantities of high quality oils moving at present.
Cooperatives in Antequera, Archidona, and Periana, among others, note a regional pattern of reduced yield linked to a three year deficit in rainfall. A producer from the Axarquia region points to areas that benefited least from autumn rains and cautions that forecasts remain bleak as Atlantic weather fronts have yet to bring meaningful rainfall. For many, the outlook remains uncertain.
Industry representatives stress the need to maintain positive messaging and reassure consumers that conditions will improve once weather normalizes. Until then, price fluctuations may feel like a roller coaster for shoppers and producers alike, according to Asaja’s provincial spokesperson.
Andrés Jiménez, who typically sends his harvest to a regional oil mill, notes that even the possibility of using stored water could help fatten olives before harvest. The COAG union emphasizes that rainfall anticipated in November is expected to be minimal, compounding concerns for future yields.
According to agricultural data, the annual price rise for extra virgin olive oil has been significant. While some years show sharp increases, no guarantee exists that the trend will reverse soon. After a summer peak, prices continued to rise in some brands, with many sellers pricing above ten euros per liter and some offerings dipping below this threshold only briefly. Retail dynamics vary by brand and retailer, with a few promotions appearing as relief for price-sensitive shoppers.
The Organization of Consumers and Users (OCU) conducted a survey across several brands this summer, reporting an average price increase from 8.16 euros to 9.42 euros per liter within six weeks. Some brands were found selling at more than 12 euros per liter even before August. The study reviewed prices at ten major supermarket chains, noting that only one brand, Mar de Olivos, offered a temporary 1 percent price reduction as part of a special deal. Several markets showed price jumps exceeding 30 percent within a 45 day span.