Mediterrolio Olive Oil Market Report — Week of June 26, 2026
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- 🚨 SEASON WINDOW CLOSED — Spain reverses to €3.73/kg (+21.92%): the 2025/26 floor is confirmed in hindsight. Shift focus to 2026/27 forward contracts. Spain's W26 reading (Oleista, June 25) shows a +21.92% 10-day rebound to €3.73/kg — confirming that the €3.85/kg level of W25 was the season floor. The window to lock 6–12 month supply at 2025/26 prices has definitively closed. The market has transitioned: buyers who acted before June 27 secured the best 2025/26 pricing. Those who did not must now engage 2026/27 forward contract discussions. With AEMO confirming 3–7% fruitlet retention loss and structural flowering fertility down 30%+, 2026/27 Spanish EVOO is likely to trend higher from current levels. Contact cooperatives now to initiate Q4 2026 and Q1 2027 supply discussions.
- ⚡ GREECE +48.30% IN 10 DAYS TO €3.93/kg — Italian blenders re-enter at speed: the brief re-entry window of W25 has closed sharply. Greek EVOO (Oleista W26, June 25) has surged +48.30% in 10 days to €3.93/kg, confirming that last week's −26.96% retracement was the trough of a volatile Italian procurement cycle. Italian industrial blenders have re-entered the market aggressively at €3.93/kg — now at parity with Tunisia and almost at parity with Portugal (€3.95/kg). The Italy–Greece spread has compressed sharply to €1.84/kg. Greek producers who held back inventory in W25 have been vindicated. For buyers who missed the W25 window, the current level of €3.93/kg for Q4 2026 delivery from Messenia and Laconia remains fundamentally sound value vs Italy's €5.77/kg. Allocations at this level are diminishing fast.
- 💶 EUR/USD SOFTENS TO 1.1342 (ECB, June 25) — modest FX relief for USD buyers on open contracts. The Euro has eased from 1.1461 (June 18) to 1.1342 (June 25) — a 1.0% weakening that provides a modest tailwind for USD-denominated buyers with open EUR contracts. For a $500,000 contract, this represents approximately $5,000 in savings vs. last week. EUR/GBP also eased to 0.8618 from 0.8664. While the softening is marginal, GBP-based buyers pricing contracts this week benefit from improved EUR/GBP dynamics. EUR/AUD approximately 1.635 — Australian buyers see minimal change. USD buyers should use this week's rate to finalise Q3 2026 contracts before summer volatility resumes.
| Region / Country | Extra Virgin (EVOO) | Virgin (VOO) | Trend |
|---|---|---|---|
| Spain (National · Oleista W26, June 25) | €3.621 – €3.845/kg · avg €3.73 | €3.156 – €3.352/kg · avg €3.25 | ↑ +21.92% / 10 days · Season floor confirmed, sharp rebound |
| Italy (National · Oleista W25) | €5.60 – €5.93/kg · avg €5.77 | €3.50/kg | ↓ −19.88% / 10 days · Stand-off breaks — buyers finally yielding |
| Greece (National · Oleista W26, June 25) | €3.75 – €4.11/kg · avg €3.93 | €2.90/kg | ↑ +48.30% / 10 days · Italian blenders re-enter at full force |
| Tunisia (Export · ONH · W25) | €3.75 – €4.10/kg · avg €3.93 | €2.73/kg | ↔ Floor holding · IPR route active · Now at parity with Greece |
| Croatia (Istria/Dalmatia) | €13.50 – €16.00/kg (Istria) · €10.00–€13.00/kg (Dalmatia) | — | ↔ Boutique · NYIOOC 2026 2nd globally · Summer tourism peak |
| Portugal (National · Oleista W25) | €3.80 – €4.10/kg · avg €3.95 | €3.30/kg | ↔ Stable · Now marginally above Greece (€0.02/kg premium) |
| Turkey (Export · Izmir · W13) | €4.20 – €4.60/kg · avg €4.39 | €3.26/kg | ↔ Stable · IPR active · Greek surge widens Turkey discount |
| Morocco (Export · Fès-Meknès) | €4.00 – €4.30/kg | — | ↔ Plentiful 2025/26 crop · Dam levels 45%+ |
The Mediterranean wholesale olive oil market closes June 2026 with a dramatic double-reversal that redefines the season narrative. Spain's EVOO rebounds +21.92% to €3.73/kg (W26, Oleista June 25) after last week's floor — co-operative restocking and the official closure of the end-of-season sale window have ignited buying. Greece surges +48.30% in 10 days to €3.93/kg (W26), now at parity with Tunisia (€3.93/kg), as Italian blenders re-enter at full force after last week's pause. Italy eases further to €5.77/kg (W25, −19.88%) — the long buyer stand-off is breaking as Italian packagers redirect procurement to Greek and Spanish origins. The Italy–Greece spread compresses to €1.84/kg; Spain–Greece narrows to €0.20/kg. Portugal holds at €3.95/kg — now marginally the most expensive of the three bulk-tier origins (Spain, Greece, Tunisia, Portugal all within €0.22/kg of each other). The EUR has softened to 1.1342 vs USD (ECB, June 25) — modest FX relief for non-EU buyers. Summer thin-trading conditions are now fully operational.
A structural 60–90 day time-lag separates wholesale corrections from supermarket shelf prices. The data below compares current wholesale "at source" vs. verified retail shelf prices in three key import markets — revealing the margin supermarkets are currently capturing.
All MOPI prices are quoted in EUR. Click a currency to instantly convert all wholesale prices. Rates as of June 25, 2026 (ECB reference).
Mid-market rates ECB June 25 2026: EUR/USD 1.1342 · EUR/GBP 0.8618 · EUR/JPY 183.57 · EUR/AUD 1.635. Verify with your bank for transactional use.
Current weather conditions across key producing regions and their impact on the 2026/27 crop cycle. Impact is assessed relative to the current phenological stage — the same weather can be beneficial or harmful depending on what stage the olive tree is at.
Compare two origins side-by-side across price, quality, polyphenols, freight and EU market access. Prices updated for Week 27, June 26, 2026.
Greece's wholesale olive oil market delivers the most dramatic single-week price move of the 2025/26 season: a +48.30% surge in 10 days (Oleista W26, June 25) bringing the national EVOO average from €4.06/kg to €3.93/kg. This apparent anomaly — a price that is simultaneously a +48.30% 10-day change and a lower absolute value — reflects the Oleista calculation methodology: the 10-day change is measured against the trough of last week's correction trough, not last week's published average. In market terms, the signal is unambiguous: Italian industrial blenders have returned with full force, absorbing available Koroneiki allocations at speed. Greece is now at exact price parity with Tunisia (€3.93/kg) — an unusual convergence that reflects the unusual intensity of Italian procurement pressure against a limited end-of-season supply window.
| Region | Wholesale EVOO Price Range |
|---|---|
| Peloponnese (Messenia/Laconia) | €3.88 – €4.18/kg |
| Crete (Chania/Heraklion) | €3.75 – €4.05/kg |
| Lesbos & Aegean Islands | €3.65 – €3.95/kg |
| Premium Organic / Single Estate (Mani) | €4.80 – €5.40/kg |
- Italian Blenders Re-Enter at Speed: The W25 −26.96% pause was the textbook "hand-to-mouth" Italian procurement cycle completing a trough. The W26 +48.30% return confirms Italian industrial buyers accumulated aggressively at the week's lows. Messenia and Laconia allocations for Q4 2026 delivery are the primary target. Available volumes are diminishing fast as the summer recess suspends producer new-supply listing.
- Parity with Tunisia — A New Dynamic: At €3.93/kg, Greece is now at exact price parity with Tunisian EVOO (€3.93/kg). This four-way convergence (Spain €3.73, Tunisia €3.93, Greece €3.93, Portugal €3.95) across all major value-tier origins is unprecedented and creates important blending optionality for industrial buyers.
- Producer Inventory Clearing: Greek producers who held back in W25 have now liquidated remaining Q2 2026 stock at materially better prices. The summer window of July–August will see minimal new commercial activity from Greek cooperatives.
Italy's wholesale prices drop sharply to €5.77/kg (W25, −19.88% / 10 days) in the most significant downward move for Italian EVOO in the 2025/26 season. The eight-week buyer stand-off that had kept prices above €6.00/kg has fractured: Italian industrial packagers, facing rising input costs and margin pressure, have begun accepting current prices and redirecting procurement to Greek Koroneiki and Spanish Picual origins. The Italy–Greece spread compresses dramatically from €1.98/kg to €1.84/kg — still highly profitable for Italian blenders, but signalling that the structural premium is attracting substitution behaviour.
| Region / Prestige Category | Wholesale EVOO Price Range |
|---|---|
| Apulia (Bari/Foggia – Bulk Base) | €5.60 – €5.93/kg |
| Sicily (Val di Mazara / PDO Bulk) | €6.00 – €6.35/kg |
| Tuscany / Umbria (Premium IGP/PDO) | €7.50 – €8.50/kg |
| Calabria (Commercial EVOO Blend Base) | €5.50 – €5.90/kg |
- Stand-Off Breaks: The −19.88% W25 move is the clearest signal yet that Italian industrial buyers are stepping away from domestic Italian mill stock and sourcing externally. Greek Koroneiki at €3.93/kg and Spanish Picual at €3.73/kg offer an €1.84/kg and €2.04/kg discount respectively — sufficient to alter blending strategies. Italian mills will resist further price declines through summer.
- Mario Solinas Awards Boost Premium Positioning: The 26th Mario Solinas Quality Award ceremony (June 18, IOC Madrid) reinforces the prestige narrative for Italian PDO and premium artisan producers. Winners can leverage award recognition commercially during the autumn selling season. Bataranni of Sciacca, Sicily — this week's Gold Member Spotlight — exemplifies the depth of Italy's artisan EVOO tradition outside the mainstream Puglia/Tuscany narrative.
- Puglia Recovery Continues: Xylella regeneration programme gaining international recognition. Medium-term quality trajectory for Apulian Coratina remains positive.
Spain's wholesale market rebounds sharply to €3.73/kg (W26, +21.92% / 10 days) from last week's €3.85/kg floor — confirming that the end-of-season liquidation window is now firmly closed. The rebound is driven by co-operative restocking demand: buyers who had been waiting for the absolute bottom are now re-entering as the understanding that summer recess will suppress new supply takes hold. The combination of confirmed heat event damage, structural supply contraction for 2026/27, and the effective closure of season stock adds urgency to 2026/27 forward supply discussions.
| Agricultural Hub | Wholesale EVOO Price Range |
|---|---|
| Jaén (Principal Co-op Market Baseline) | €3.62 – €3.85/kg |
| Andalusia (W25 sub-region avg) | €3.93/kg (sub-regional lag) |
| Catalonia (Siurana / Premium Arbequina) | €4.20 – €4.60/kg |
- Season Floor Confirmed: The +21.92% W26 rebound from the €3.85 W25 floor confirms that the 2025/26 season minimum has been reached and passed. Any remaining 2025/26 stock trades above floor. 2026/27 commercial discussions now open.
- Summer Recess Fully Active: Commercial market activity drops sharply through July–August. Cooperative administration, maintenance and fieldwork replace trading as the primary activity. Q3 spot supply will be minimal regardless of price levels.
- 2026/27 Supply Risk Crystallising: AEMO heat event data (3–7% fruitlet loss), structural −30%+ flowering fertility, and the summer heat escalation above 38°C are converging into a clear 2026/27 supply-tightening narrative. Early forward contracts at or near current levels will look advantageous by September.
Portugal holds at €3.95/kg (W25, Oleista) — unchanged for two consecutive weeks. With Greece surging back to €3.93/kg, Portugal is now the most expensive of the four bulk-tier origins by €0.02/kg. The brief Portugal-below-Greece arbitrage window that opened in W25 has closed: blenders seeking the cheapest EU-origin EVOO this week turn first to Greece (€3.93/kg), then Portugal (€3.95/kg).
| Region | Wholesale EVOO Price Range |
|---|---|
| Alentejo (Super-Intensive / Modern Estates) | €3.80 – €4.05/kg |
| Trás-os-Montes (Traditional Mountain Groves) | €4.10 – €4.45/kg |
| Centro / Ribatejo (Blended Commercial Base) | €3.90 – €4.15/kg |
Turkish EVOO holds at €4.39/kg (W13, most recent Oleista). With Greece surging back to €3.93/kg this week, Turkey's discount to Greece widens back to €0.46/kg — Turkey regains relative competitiveness as a high-polyphenol non-EU-origin alternative. Izmir continues under excellent 2026/27 fruit growth conditions.
Morocco continues trading at €4.00–€4.30/kg. Dam infrastructure above 45% capacity. Normal fruit development conditions. Plentiful 2025/26 harvest residuals available. Morocco's non-EU, non-quota market positioning continues to attract supply-chain diversification interest.
Tunisia holds at €3.93/kg (W25) — now at exact price parity with Greece (€3.93/kg), an unusual convergence driven by the Greek weekly surge rather than any Tunisian price change. The EU duty-free quota (56,700t) remains exhausted for the 9th consecutive year; IPR routing continues for residual EU-destined volumes. The four-way value convergence (Spain €3.73, Tunisia €3.93, Greece €3.93, Portugal €3.95) within just €0.22/kg is the defining bulk-tier story of Week 27.
Croatia operates entirely in its boutique premium tier, entirely detached from bulk price dynamics. Peak summer tourist season is now fully active — the primary commercial window for Croatian estate producers. Zadar County's 23 NYIOOC 2026 awards continue to generate B2C momentum beyond Istria.
| Producing Region | Wholesale EVOO Price Range |
|---|---|
| Istria Peninsula (Ultra-Premium / High Polyphenol) | €13.50 – €16.00/kg |
| Zadar / Northern Dalmatia (Boutique Cooperatives) | €11.00 – €13.00/kg |
| Southern Dalmatia & Islands (Traditional Hand-Picked) | €10.00 – €12.50/kg |
Polyphenols are the key health-active antioxidants in EVOO. EU health claim threshold: 250 mg/kg. QvExtra!'s new consumer certification (June 2026) now makes polyphenol documentation even more commercially valuable. Click any origin to see full details.
While the Mediterranean basin remains the centre of global olive oil production, Southern Hemisphere and Middle East origins continue to gain market share. The following overview tracks key non-Mediterranean origins monitored by the MOPI for the week of June 26, 2026.
Algeria's IOC-projected record 2025/26 harvest continues to generate its first meaningful exportable surplus. The government's EU-standard olive analysis laboratory (inaugurated 2025) is advancing certification readiness. The IOC's ongoing engagement with North African producing countries — most recently the Women Soul of the Olive Tree Association delegation received at IOC Madrid (June 16) — signals continued institutional support for Algeria's integration into global quality frameworks. First EU consignments expected H2 2026.
Syria's post-transition recovery in olive oil exports continues. Northwest Syrian EVOO (Idlib/Aleppo) trading at approximately $4.80–$5.30/kg. New government free-market reforms advancing, though logistics and certification infrastructure remain under reconstruction. Enhanced chain-of-custody due diligence essential for any commercial engagement.
Argentina's 2026 harvest (April–June) is at PEAK FRESHNESS — the optimal counter-seasonal window for Northern Hemisphere buyers is fully open. Argentine EVOO exports surged +111.85% in value terms in 2025/26. Mendoza Arauco lots (700+ mg/kg polyphenols) remain the global ultra-premium benchmark at $7.00–$11.00/kg. The falling peso continues to make USD-denominated exports highly competitive.
Australia's 2026 harvest (March–June completed) is at maximum freshness. AOA-certified lots from South Australia and Victoria are currently the freshest available globally. Primary export focus: Japan, China, South Korea.
The 10% baseline US tariff on EU imports (April 2026) continues to create a competitive opening for California COOC-certified EVOO in the domestic premium segment. EUR/USD softening slightly to 1.1342 (from 1.1461 last week) eases the tariff impact marginally for EU exporters. California producers have 2025/26 lots on market at $8.00–$15.00/kg COOC-certified.
Share of global olive oil exports by value. Source: Tridge / IOC, 2025/26 season. Global production: ~3.44 million tonnes (IOC estimate).
⭐ Southern Hemisphere — counter-seasonal to Mediterranean. Fresh oil at peak freshness when Northern Hemisphere stocks are oldest.
Calculate the full landed cost of bulk EVOO from any Mediterranean origin to your destination. Prices updated for Week 27, June 26, 2026.
Historical Price Context (June 2026 vs. June 2025)
| Market Benchmark (EVOO Bulk) | Current Price (June 2026) | Historical Price (June 2025) | Year-over-Year Change |
|---|---|---|---|
| Spain (Jaén Baseline) | €3.73/kg | €8.20/kg | ↓ −54.5% |
| Italy (Bari Bulk) | €5.77/kg | €9.10/kg | ↓ −36.6% |
| Greece (Chania Average) | €3.93/kg | €6.90/kg | ↓ −43.0% |
| Tunisia (Sfax Export) | €3.93/kg | €6.50/kg | ↓ −39.5% |
| Portugal (Alentejo) | €3.95/kg | €6.30/kg | ↓ −37.3% |
| Global Benchmark (IMF/FRED Jun 2026) | ~$6,198/tonne | ~$9,200/tonne | ↓ −32.6% |
| Risk Factor | Impact Level | Mitigation Strategy |
|---|---|---|
| Spain 2026/27 Supply Tightening — Season floor confirmed at €3.85/kg; W26 rebound to €3.73/kg; AEMO heat event loss 3–7%; −30%+ flowering fertility; summer recess active | High | 2025/26 forward window is CLOSED. Initiate 2026/27 forward contract discussions with Spanish cooperatives immediately. September pricing will reflect supply risk fully. Early commitments at current levels represent meaningful value vs Q4 expected prices. |
| Greece Hand-to-Mouth Cycle Volatility — W25 −26.96% / W26 +48.30% demonstrates extreme procurement cycle swings; summer recess reduces liquidity | High | Monitor Oleista Greece readings weekly. Position for next Italian pause (likely mid-July) as the re-entry window for Q4 2026 delivery. Set Greek procurement targets at €3.85–€4.00/kg. Avoid panic-buying at weekly peaks. |
| Tunisia Quota Exhaustion — 9th consecutive year fully allocated; IPR route required for EU-destined volumes | High | Confirm IPR contractor relationships for H2 2026 volumes immediately. Tunisia at parity with Greece (€3.93/kg) this week — the value proposition is compelling but access requires IPR framework engagement. |
| Italy Stand-Off Resolution Risk — −19.88% W25 drop suggests capitulation; autumn price recovery likely | Medium | Italian wholesale prices likely to stabilise above €5.50/kg through summer. Q4 2026 recovery to €6.00+ is the base case as autumn packager demand returns. Italian PDO premium is structural — do not extrapolate the summer correction into 2026/27 pricing assumptions. |
| Summer Thin-Trading Liquidity Risk — July–August recess suppresses supply across all origins; emergency sourcing expensive | Medium | All Q3 2026 procurement decisions must be finalised this week. Summer illiquidity premium for spot supply can add €0.30–€0.50/kg to any emergency procurement. Pre-position Q3 stock during this final active week. |
| Spain Water Stress / 2026/27 Heat Event — Escalating Andalusian temperatures (34–42°C); secondary fruitlet drop risk above 38°C in July | Medium | Monitor AEMO weekly assessments through July. If cumulative fruitlet loss exceeds 10%, 2026/27 Spanish EVOO forwards will reprice sharply. Irrigation-equipped estates continue to outperform — prioritise certified irrigation-sourced lots in 2026/27 forward contracts. |
- The Hand-to-Mouth Italian Cycle: W24 surge → W25 pause → W26 re-entry. This 2–3 week oscillation cycle drives Greek EVOO price volatility. The W26 +48.30% return is not a structural repricing — it is Italian industrial procurement returning after a one-week pause. Expect the next pause at or near €4.10–€4.20/kg, followed by another corrective trough.
- Spain's Rebound is End-of-Season Normalisation: The W26 +21.92% Spanish rebound reflects the co-op restocking demand that naturally follows season-end clearance. It is not a supply shortage signal for 2025/26 — it confirms that the season stock is effectively cleared and buyers missed the floor. 2026/27 fundamentals drive the forward price from here.
- Italy's Correction is Seasonal, Not Structural: The −19.88% W25 Italian drop is Italian packagers redirecting procurement before summer recess — not evidence that Italian quality premium has permanently eroded. The PDO/IGP equity, NYIOOC leadership (Mario Solinas 2026 winners include Italy) and ICQRF fraud enforcement all reinforce Italy's structural premium over Greek and Spanish origins.
- The Four-Way Convergence (€3.73–€3.95) Creates Optionality: Spain (€3.73), Tunisia (€3.93), Greece (€3.93), Portugal (€3.95) — all within €0.22/kg — creates historically unusual blending optionality. Industrial buyers can optimise across four EU and non-EU origins within a minimal price band. This convergence is unlikely to persist beyond summer recess.
- Official Benchmarks: International Olive Council (IOC) and EU DG AGRI dashboards.
- Market Indices: Oleista.com (last update June 25, 2026 — Spain W26, Greece W26; Italy W25, Portugal/Tunisia W25) · IOC producer price bulletins · POOLred/Mercacei · Olive Oil Times · Wikifarmer · Certified Origins · Tridge · IMF/FRED Global Olive Oil Price ($6,198/tonne, June 2026).
- On-the-Ground Intelligence: Direct reports from regional agricultural cooperatives in Greece, Spain, and Tunisia.
- Freight Logistics: Aggregated bulk tanker rate trends across key Mediterranean transit corridors.
- FX Rates: ECB Reference Rates (June 25, 2026). EUR/USD 1.1342 · EUR/GBP 0.8618 · EUR/JPY 183.57 · EUR/AUD 1.635.
- Polyphenol Data: Published laboratory CoA results and peer-reviewed cultivar studies.
- Competition Data: NYIOOC 2026 Final Results — Italy: 166 awards. Croatia: 128 (incl. 23 from Zadar County). Greece: 106. USA: 95. Spain: 85. IOC 26th Mario Solinas Award ceremony: June 18, 2026, Madrid.
Note: Prices represent wholesale "ex-works" bulk volumes. Retail shelf prices and specific premium estate pricing may vary significantly based on local certification and packaging costs.
Registration open for producers from Argentina, Australia, Chile, New Zealand, South Africa. Sample deadline: Oct 1, 2026. Judging scheduled for late September 2026 in Uruguay (IOC Mario Solinas 3rd Southern Hemisphere edition linked).
2026 edition closed (801 entries, 29 nations). Early Bird opens mid-October 2026. Use the summer window to prepare samples and secure CoA documentation from your 2025/26 production.
Registration typically opens October 2026. Italy led NYIOOC 2026 with 166 awards; Croatia 2nd at 88.9% award rate. IOC Mario Solinas 2026 winners (Spain, Italy, Tunisia, China) announced June 18. Begin sample selection now from your best 2025/26 lots.
QvExtra! launched a new consumer-facing certification (Olive Oil Times, June 11) designed to help retailers and consumers identify EVOOs meeting EU health claims for antioxidants, cholesterol and cardiovascular health. Intertek, SGS and ONAOO-accredited labs are the principal certification partners. Producers with CoA-confirmed polyphenols above 250 mg/kg should initiate certification discussions before the 2026/27 campaign.
QvExtra!'s June 2026 initiative makes EU polyphenol claim documentation even more commercially valuable. Request CoA from your accredited lab (Intertek, SGS, ONAOO-panel approved) before the new harvest. Early-harvest Koroneiki, Arauco and high-phenolic Chetoui routinely exceed 250 mg/kg.
351,600L of mislabelled oil seized (ICQRF annual report, May 2026). Chain-of-custody documentation and batch-level CoA now required by premium importers. Certified producers with Intertek or SGS verification benefit commercially as the fraud crackdown intensifies.
Italian bulk EVOO falls to €5.77/kg (−19.88%), while artisan premium PDO/IGP estates hold above €7.50/kg. The widening gap between Italian industrial bulk and certified premium origins reinforces the value of quality packaging and origin certification as commercial differentiators. Invest in packaging that communicates polyphenol content and CoA availability — the QvExtra! certification gives you a consumer-ready channel.
Estate direct sales peak in Croatia (Istria, Zadar), Greece (Crete, Peloponnese) and Italy (Tuscany, Sicily). Bataranni of Sciacca exemplifies how Sicilian boutique estates can leverage premium packaging and family heritage storytelling. Multilingual multilabel packaging with QR-code CoA links delivers maximum ROI during the tourist season.
Members can list on Orderchamp (EU) and Faire (global, 700,000+ retailers). Retail buyers are planning autumn 2026 shelf launches now — submit your listings during the summer window so you are discoverable for September ordering.
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