Extra virgin olive oil - why prices fluctuate
A look at the price development of our organic extra virgin olive oils!
After two years of very high raw material prices for extra virgin olive oil, we are now able to lower our prices again somewhat – both for our extra virgin olive oil from Italy as well as for our extra virgin olive oil from Greece. However, as the market situation develops dynamically, we always adjust our prices fairly and transparently – both upwards and downwards. As a customer, you are currently benefiting from the lower purchase prices, but the olive oil market will remain volatile in the long term, meaning that further price increases cannot be ruled out.
But why have prices for 100% organic olive oil risen so sharply in recent years? How will the market continue to develop? And what does this mean for our high-quality olive oil? We take a look at the background to the price trend and explain what this means for our delicious olive oil – and for you as a customer!
Why has olive oil become so expensive in recent years?
The past two harvest years (2023 & 2024) have hit global olive oil production hard. Extreme weather conditions led to drastic crop failures, particularly in the most important producing countries of Spain, Italy and Greece.
Why the crop failures?
- Heatwaves and drought: Less rain and extreme temperatures affected the olive trees.
- Falling stocks: The low harvest volumes caused stocks to shrink, resulting in a massive increase in the price of olive oil.
- Pest infestation: The olive fly also occurred more frequently in certain regions and destroyed individual parts of the harvests.
The result: record prices for the raw material olive oil at origin!
Prices are falling – but for how long?
The situation has eased with the new harvest (November 2024 – March 2025). The olive harvest has been better in Greece and Spain in particular, meaning that larger quantities are now available. This is pushing prices down – and we are passing this price reduction on directly.
But be careful: the situation is not the same everywhere!
Italy remains the exception: the harvest here was once again weak, which is why high-quality olive oil is still in short supply. Even though the situation in Italy remains tense, we can offer our Italian organic olive oil at an identical price to Greek olive oil.
The graphs show the development of the olive oil price in the period from 07/2020 to 01/2025 in Greece (left) and Italy (right) – for our extra virgin olive oil we only look at the red graph “extra virgin olive oil”.
Source:
OLIVEOIL PRICES – February 2025 update
What does the future look like?
The current price level could hold up in the coming months – but olive oil remains an uncertain price factor commodity in the long term. The reasons:
- Stocks remain low. Although the new harvest was better, global stocks are not yet back to normal levels.
- Climate change is creating unpredictable conditions. Hot summers, drought or storms can jeopardize the next harvest.
- Italy could become even more expensive. The poor harvest and high demand for high-quality olive oil could lead to another price increase there.
- Rising production costs. Wages, energy and transportation costs continue to influence the final price.
Regardless of market fluctuations and price trends, one thing remains unchanged: our commitment to the highest quality and best taste.
Our quality promise since 1985
💚 100% organic ingredients from controlled organic cultivation
🫒 Careful cold pressing for full flavor and the best nutrients
🔍 Double quality assurance – far beyond legal standards
🫱🏼🫲🏼 Byodo’s promise of enjoyment for an outstanding taste experience
Since our foundation 40 years ago – in 1985 – it has been our goal to combine organic and enjoyment in every single product. Our decades of expertise in sensory analysis always guarantee the highest quality and best taste in our extra virgin olive oils.
Sustainability counts - today more than ever
Developments in recent years show how strongly external influences can change agriculture and therefore also the availability and prices of food. Extreme weather and unpredictable harvest conditions make it clear that sustainable action is becoming increasingly important – for the environment, for producers and for us all.
Find out more about our commitment to a more sustainable future:
Learn more
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