In June, month in which the extra virgin olive oil market tends to be stagnant, new price increases for PDOs have been recorded (Ligurian at 15.5 euros/kg and Garda at 17.5 euros/kg) but above all we are witnessing the alignment of the prices of extra virgin olive oil in Brindisi, Taranto and Lecce: with prices started from 8.3 euros/kg two weeks ago and reached 9 euros/kg (Ismea Mercati on 30 May 2024).
It therefore emerges even more clearly the anomaly of a price, very low for a month and a halfon three Apulian markets, dominated by a few operators. It cannot be ruled out that these prices will justify special and promotional offers in the large-scale retail trade in the coming weeks, right on Italian oil. If this were a plausible hypothesis, it would be legitimate to ask whether these are only spot commercial operations, to maintain market shares or attack those of a competitor, or whether it is part of a more complex strategy aimed at lowering oil prices in the near future. national extra virgin olive oil.
Yes, because downward commercial operations on Italian extra virgin olive oil in large-scale retail trade do not appear justifiable given the growing trend in sales of this segment. National extra virgin olive oil is on sale and there is no longer much available in the tanks. Promotional and below-cost offers would be justifiable only on the basis of a repositioning, the reasons for which, however, appear incomprehensible, if not dictated by speculative logic.
Meanwhile, however, Spanish extra virgin olive oil returns to 8.05 euros/kg after some ups and downs in the last week. These are fluctuations of 10-15 cents per kilo of oil, therefore not alarming and within market logic.
The price of virgin olive oil is also stable at 7.4 euros/kga decrease of 10 cents in a week, also partly justified by the relative abundance of this product offered in particular by Iberian cooperatives.
However, the price of lampante in Spain is rising to 7.2 euros/kg, therefore practically a neck away from the virgin olive oil. Evidently, sales of soft and intense olive oil in Spain do not show such significant declines as to require a realignment of wholesale prices.
Overall, the olive oil market is experiencing a phase of substantial stability, waiting to understand the real potential of the next olive oil campaign, which remains optimistic, albeit with some doubts.
