Spanish supermarkets reduce olive oil prices

Major Spanish retailers Mercadona and Carrefour have implemented price reductions for olive oil products as market costs stabilize following previous spikes.

Mercadona has lowered prices for its Hacendado brand. Refined olive oil (0.4 and 1.0 intensity) has seen price drops of between 40 and 45 cents per liter compared to the start of the year. The five-liter container is now priced at 17.25 euros, resulting in a cost of 3.45 euros per liter. Additionally, the company has reduced prices for its extra virgin olive oil (AOVE) range, with the one-liter bottle priced at 4.35 euros.

Carrefour has also adjusted its pricing, specifically targeting the extra virgin olive oil market. The retailer is offering a five-liter container for 22.35 euros, which brings the price per liter to 4.47 euros. This move is viewed as a strategic effort to remain competitive during the Christmas shopping season.