Source : Australian Bureau of StatisticsPrices of virgin olive oils imported into Australia in April continued the downward trend with packaged olive oils dropping 4.52% to $5.38/litre (customs value) and bulk virgin olive oil dropping 14.64% to $4.09/litre (customs value).
The International Olive Council (IOC) reports that despite prices starting to level out in Europe, the price of virgin olive oil has dropped 29% in Spain and Greece and 25% in Italy over the past year. The final tonnage for the Spanish crop is expected to fall below predictions this year due to adverse weather conditions.
