Spanish Farmers Criticize Supermarkets For Inflating Olive Oil Prices

Spanish olive oil producers say big supermarkets are making huge profits at the expense of consumers by marking up prices by 59% over the initial price.

Spain—the world's largest olive oil provider—expects production to drop by 50% this year.

Heat waves and drought have been crippling olive oil production in recent years, Alessio Dell'Anna reported for Euronews.

Spain—the world's largest olive oil provider—expects production to drop by 50% this year. In addition to creating a perfect breeding ground for counterfeit products, shortages have sent prices through the roof.

"The initial price of our products has increased only by 3%," said Carles Peris Ramos, General Secretary of the farmer association La Unió. "And still, consumers are paying 59% more when buying at large supermarkets."

However, supermarkets deny inflating prices. Pedro Reig, director of the Association of Supermarkets of the Valencian Community, maintained that "the price of virgin olive oil has remained below €10 throughout 2024."

Despite this, consumer organizations argue that prices are still too high, even after the complete elimination of value-added tax on olive oil in Spain since July 1.