Spain's olive oil withdrawal rule and Brazil's growing imports shape 2026 market

Spain's Ministry of Agriculture, Fisheries and Food has opened a public hearing on a new marketing regulation for the 2026/27 olive oil campaign. The proposal introduces an automatic withdrawal mechanism that would be triggered when the combined initial stocks and projected production exceed 20% above the average of the previous six campaigns, or when supply surpasses 120% of that average. Withdrawn oil—any grade—could be stored for non‑food uses until the next campaign, with regional authorities responsible for enforcement. The measure is grounded in EU Regulation 1308/2013 and Spanish Royal Decree 84/2021.

Meanwhile, Brazil accounts for roughly 9% of global olive oil imports, importing about 81,000 tonnes in the 2024/25 campaign. Virgin olive oil makes up 85% of these imports. Although total imports fell 0.5% in 2024/25, the first half of the 2025/26 campaign saw a 40.5% increase compared with the same period a year earlier. Portugal remains Brazil's main supplier, providing about 62% of its imports. The data reflect a sustained recovery in Brazil's olive‑oil market after a low point in 2015/16.