Olive oil prices ease as global demand grows and Brazil’s imports rebound
Global olive oil demand remains firm as producer prices retreat from crisis-era highs. Brazil’s imports rose 40.5% in the first half of 2025/26, but Greece supplied only 189 tonnes during 2024/25.
Market moves toward gradual rebalancing
The international olive oil market is showing signs of normalization after two years of volatile production and historically high prices. Data from the International Olive Council presented by Gargalianoi Online indicate that demand remains strong and imports are increasing across most major markets. Producer prices have started to decline, although they remain above the levels recorded before the recent supply and price crisis.
During the first half of the 2025/26 crop year, from October 2025 through March 2026, olive oil imports across the principal international markets increased by 4.3% from the same period a year earlier. Most markets recorded growth, while Canada and the United States were the exceptions, with imports declining. The figures suggest that lower prices are supporting purchasing activity without signaling a retreat in consumption.
Brazil emerges as a key growth market
Brazil stands out among large non-Mediterranean markets. Its total imports declined by a marginal 0.5% in 2024/25, but surged by 40.5% in the first half of the new crop year. Consumption is approximately 0.4 kilograms per person, well below Mediterranean levels and therefore leaving room for further expansion. Brazil accounts for about 9% of global olive oil imports and more than 3% of worldwide consumption.
In 2024/25, Brazil imported 81,333 tonnes of olive oil and olive-pomace oil. Virgin olive oil represented 69,475 tonnes, other olive oil 11,293 tonnes and olive-pomace oil 565 tonnes. Portugal dominated supply with 56,478 tonnes, followed by Spain with 9,681 tonnes, Argentina with 5,896 tonnes and Italy with 4,372 tonnes. Together, those volumes show how firmly Brazil’s supply channels are anchored in a small group of established exporters.
Greece captured little of this business. Brazilian imports from Greece reached only 189 tonnes, all of them virgin olive oil. The gap between Greece and the leading suppliers illustrates the commercial challenge facing Greek exporters: demand is expanding, but market growth alone does not guarantee wider access. Suppliers need distribution, brand recognition and consistent availability to convert Brazil’s low per-capita consumption into sales.
Prices retreat unevenly across Europe
Producer prices are declining at different speeds in the main European benchmarks. In Jaén, Spain, extra virgin olive oil was priced at €378.5 per 100 kilograms in mid-June, still 7.5% above the corresponding level a year earlier. In Bari, Italy, the price fell to €565 per 100 kilograms, approximately 42% below the exceptionally high level recorded in the previous year. The broader olive sector also remains active: table olive imports in the principal markets rose by 5.6% between September 2025 and March 2026. These conditions create opportunities for Mediterranean exporters, including Greece, but climate variability remains the largest source of uncertainty for production and the international market.
