12 Sep, 2023 @ 16:22
1 min read

HANDS UP: Price of olive oil in Spain more than doubles in two years as supermarkets are accused of ‘speculation’ 

OLIVE oil prices continue on the rise as a bottle of Spain’s signature product is today 114.8% more expensive than it was in March 2021. 

However, buyers should be aware of the fact that olive oil prices can differ a lot from one supermarket to another, as Spain’s Consumers’ Association FACUA has pointed out, accusing supermarkets of ‘speculation.’

The cost of the same brand of olive oil can be up to 45% more expensive in one supermarket than in another chain.  

While the 1-litre bottle of popular Carbonell oil costs costs €7.49 in Aldi and €8.86 in Alcampo, the exact same product is €12.85 in Carrefour. 

FACUA has asked the Government to investigate the prices’ escalation in the sector and to apply caps on supermarkets’ profit margins.

“Four euro difference between two bottles of the same oil from one supermarket to another – When is the Government going to intervene?” the organisation said on their Twitter, now cal X. 

The price of olive oil has experienced an ongoing growth over the last 28 months, according to the Spanish Institute for National Statistics (INE).

The product is 52.5% more expensive than a year ago, after seeing an 8.7% increment from July to August 2023. 

A 1-litre bottle of olive oil has an average cost of €8.91, while consumers pay around €44.35 for a 5-litre container. 

In 2021, Spanish households spent on average €77.6 on olive oil, which increased to €97.7 in 2022, while figures are expected to be much higher this year. 

The latest price hikes have been caused by Spain’s current drought, which has resulted in poor harvest and production not meeting demand. 

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