Market intelligence
Olive oil price swings of 30–80% between harvests are now the norm, not the exception. This guide breaks down what actually drives wholesale EVOO pricing, how to read the Spanish origin market, and how to structure contracts that protect margin across a volatile season.
Spanish origin prices (Jaén, Córdoba, Sevilla) set the global benchmark because Spain produces roughly half the world's olive oil. The weekly Poolred and MAPA indices are the reference. When Andalusian rainfall drops below 400 mm in the growing season, forward prices typically move 20–40% within weeks.
Consecutive droughts pushed Spanish origin EVOO from ~€3/kg to over €9/kg at peak in early 2024, before easing on the 2024/25 harvest recovery. Buyers who held six-month forward contracts avoided the worst; spot buyers paid up to 3× more. The lesson: contract windows longer than one harvest, and keep 30–60 days of safety stock.
20 ft container ex-Algeciras to Rotterdam or Felixstowe runs €1,200–€2,400 depending on season. Glass Marasca bottles add €0.35–€0.55 per unit. EU intra-community trade is duty-free; UK, US and GCC destinations add 0–20% tariff depending on grade and packaging.
Fix varietal, grade and harvest window; index the price to Poolred plus a transparent margin; agree quarterly repricing with a collar (±10%) rather than open spot exposure; lock Incoterms (FCA Algeciras or DAP destination) so freight moves are attributed cleanly.
Single-varietal Picual EVOO from Andalusia at index-linked pricing, quarterly price letters with Poolred and MAPA context, forward contracts up to 12 months, and lot-level cost transparency. Request our latest wholesale price sheet for current €/kg by pack size and Incoterm.
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