A liter of olive oil became 2.91 euros cheaper between November 2024 and October this year, according to the latest data from the Price Observatory.
Between November 4, 2024 and October 6, 2025, the price of a liter of virgin olive oil went from 7.98 euros to 5.07 euros, thus registering a drop of more than 36%.
The downward trajectory in the price of olive oil had an interval between February and March 2025, when the value of a liter went from 6.60 euros to 6.66 euros.
From then until April 21st it recorded its biggest drop, reaching 5.59 euros, but in May it again exceeded six euros.
Since June 16th, the price of olive oil has been falling steadily, reaching a minimum of 5.07 euros in this period.
The price of extra virgin olive oil went from 8.69 euros to 6.55 euros.
Casa do Azeite does not anticipate “significant changes” in prices for 2026, after a year that should be marked by an “average campaign”.
“[…] There may be price corrections, but we think they will not be very significant changes”, stated the general secretary of Casa do Azeite, Mariana Matos, in response to Lusa.
Between January and October, olive oil sales on the national market grew by 30% compared to the same period last year, driven by the decrease in price.
However, these are still 8% below the average recorded between 2021 and 2023, data from Casa do Azeite member companies reveals.
In turn, exports, until September, increased by around 12.6% in quantity, while in value they fell by 33%.
The general secretary of Casa do Azeite also considered that, in terms of quantity, this year’s olive campaign will be “average”, and could be 20% below the production of the previous campaign.
Operating since 1976, Casa do Azeite is an employers’ association governed by private law, which includes around 40 companies, representing approximately 85% of all branded olive oil packaged in Portugal.