Spain Olive Oil Market Update, September 2026: Crop Outlook, Bulk Prices and Import Requirements

The most recent International Olive Council (IOC) estimate puts 2025/26 world olive-oil production at 3.44 million tonnes, 4% below the previous season's provisional 3.572 million tonnes. The estimate is a useful market baseline, but it is not a forecast for the 2026/27 harvest now approaching. Buyers should avoid treating it as one: weather, fruit development, milling yields and early harvest timing will determine the next commercial picture country by country.

Spain remains the central reference point for bulk availability and price discovery. The IOC's most recently published country figures for 2024/25 put Spain at 1.419 million tonnes, Italy at 248,000 tonnes, Greece at 250,000 tonnes and Portugal at 177,000 tonnes. In the same season, Türkiye reached 505,000 tonnes and Tunisia 340,000 tonnes. These are confirmed prior-season estimates, not a claim about each country's forthcoming crop.

The commercial implication is straightforward: Spain has depth, while Italy, Greece, Portugal, Türkiye and Tunisia remain important alternative origins and competitive reference points. For buyers, the practical question is no longer only "which origin is cheaper?" It is whether the available lot meets the required grade, chemistry, sensory profile, origin statement, format and delivery date. These variables can move independently of a headline national crop figure.

The European Commission updated its weekly olive-oil price workbook on 4 September. An origin-price aggregator using public EU and Spanish regional data reported Spain averages on 6 September of €3.48/kg for extra virgin, €3.25/kg for virgin and €3.15/kg for lampante. Its stated ten-day changes were -0.35%, +0.98% and +1.25% respectively. The figures are price indicators, not executable offers: final costs still depend on specification, volume, packaging, loading point, payment terms, freight and the exact lot.

The same source showed a visible origin spread: Italian extra virgin at €4.85/kg, Greek extra virgin at €3.70/kg, and Portuguese extra virgin at €3.45/kg (Portugal's data were last updated 24 August). It reported older observations for Tunisia and Türkiye, so they should not be used as current quotation benchmarks. Analysis: the recent small Spanish movements suggest a calmer spot market than the sharp price swings of 2023–24, but the pre-harvest period can reduce firm availability where sellers wait for clearer new-crop information. Buyers should request a dated, specification-matched quotation rather than budget from a published average.

The IOC reports that imports across a selection of major markets rose 4.3% between October 2025 and March 2026 versus the same period a year earlier. Most recorded higher volumes; Canada and the United States were exceptions in that particular comparison. Earlier 2025/26 updates also identified China and the United States as exceptions during the first two months, illustrating why aggregate demand data should not be used as a substitute for a destination-specific sales plan.

For the United States, the latest fuller IOC country view is positive in longer perspective: imports reached 437,309 tonnes in 2024/25, up 20.6% year on year. Spain, Italy, Tunisia and Türkiye together supplied 88.6% of the total. Virgin oils represented 73.5% of US imports. This supports continued attention to the US, but it does not establish demand for any individual Spanish supplier or brand.

Italy and France remain strategically relevant within the EU trade system, where the Commission refreshed both intra-EU and extra-EU olive-oil datasets on 24 August. Italy is especially significant for buyers seeking bulk inputs for bottling or blends; the appropriate approach is a defined specification and traceability discussion, not an assumption about origin acceptance. The UK, Egypt, China and Japan remain markets where buyer qualification, import responsibility and local channel fit should be checked case by case. The IOC's import dashboard continues to cover key importing countries including China, Japan and the United States, but it does not provide a single new verified purchasing development for every market this week.

For Great Britain, the basic import process still requires the correct commodity code and import declaration; duty and licence requirements are determined from that classification. A specific update matters to organic buyers: on 4 September, the UK Government removed the planned 1 February 2027 requirement for a certificate of inspection on organic food imported from the EU, EEA and Switzerland — the waiver has been extended. UK organic importers still need UK certification by an approved control body and must meet the general import and labelling rules.

For EU supply chains, the EU's deforestation regulation is confirmed to apply from 30 December 2026 for most operators, and from 30 June 2027 for most micro and small operators. Olive oil is not automatically covered merely because it is an agricultural product: compliance must be checked against the regulation's Annex I commodity and product-code scope for the actual goods. Do not add unnecessary documentation to a shipment on assumption alone.

No verified olive-oil-specific freight-rule change was identified in the sources reviewed. Freight should therefore be quoted per lane, loading format, Incoterm, transit requirement and cargo value. Before confirming any shipment, align the commercial invoice, packing list, transport document, origin evidence where requested, product specification/analysis and destination customs entry with the importer and appointed forwarder.

For specification-led Spanish sourcing, see Navarra Exports' olive oil product specifications and submit requirements through the buyer RFQ form.