This year’s extra virgin olive oil price has started below five euros per liter. EU data and agricultural auctions indicate producer prices will range between 4 and 5 euros, depending on quality, similar to last season’s levels.

For October, national prices averaged 427.5–425.16 euros per hundred kilograms.

Spanish olive oil prices, which influence international rates, started from 397.5 to 470 euros per hundred kilograms for extra virgin quality. Spain saw a price drop in October, expected to impact Greek prices.

Notably, A.S. Aigia Laconia sold at 486 euros per hundredweight with 0.2% acidity, while Crete’s Agricultural Union achieved 430 euros for 0.3% acidity. Prices rise as acidity decreases, sometimes nearing 500 euros per hundred kilograms.

The highest producer prices this year are in Laconia, then Messinia and Crete, but these are significantly lower than previous years—37% less than last year, 46% less than two years ago, and 10% below the five-year average.

Consumers will likely see retail prices between 6 and 10 euros per liter, closer to 6 euros for bulk oil, restoring pre-2023 crisis levels.

Premium or organic products may cost more. While consumers benefit from reduced prices, producers face rising production costs and decreased profits.