Deoleo Says Olive Oil Prices Stabilize at 3.9 Euros/kg as U.S. Squeeze Bottles Drive 40% of Growth
Updated
Updated · CNBC · Jul 17
Deoleo Says Olive Oil Prices Stabilize at 3.9 Euros/kg as U.S. Squeeze Bottles Drive 40% of Growth
2 articles · Updated · CNBC · Jul 17
Summary
Deoleo said the olive oil market has moved into a stable phase after the extreme 2022-2024 volatility that battered supply, prices and household demand.
Favorable rainfall in Spain and other major producers is supporting a solid upcoming harvest, strengthening global supply and giving the industry more predictable pricing conditions.
Spanish extra virgin olive oil prices have fallen to about 3.9 euros per kilogram from a record 9.3 euros in January 2024, helping revive global household demand.
U.S. demand has improved across all income brackets, and Deoleo said its Bertolli squeeze-bottle redesign is helping—squeeze formats now account for 40% of category growth there.
The calmer market offers relief after drought and heat ravaged southern European harvests, though analysts still warn climate change, water scarcity and pests could keep supplies volatile.