The price of extra virgin olive oil has registered its first year-on-year drop in supermarkets (-2.5%)although it is a much lower decrease than that produced at origin (-13%), according to the data of the comparative study carried out by Facua-Consumers in Action about thirty prices for sale in six large distribution chains.
Specifically, The average price of a liter of virgin was 12.5 euros in November 2023while it currently stands at 12.18 euros, which represents a year-on-year decrease of 2.5% (0.32 euros/liter), in a product that has almost quadrupled its price compared to what it had in 2021.
A decrease that is much lower than that which occurs in the countryside, since according to data from the Ministry of Agriculture, Fisheries and Food, the liter of extra virgin It was paid at origin at 6.45 euros/liter before taxes between October 28 and November 3, 2024, while the first week of November 2023 was 7.41 euros/liter.
Thus, a year ago the farmer was paid for the extra virgin olive oil produced by a 13% more (0.96 cents more per liter) of what you are currently paid.
Facua has recalled that The VAT on this product was 5% a year ago, while last July it went to 0% and as of October 1 it rose to 2%, a percentage that will remain until the end of the year. As of January 1, 2025, a Super reduced VAT of 4% being considered a basic necessity product.
The organization has highlighted the downward trend in origin that can also be seen in virgin olive oil. So, At the beginning of November 2023, it was paid at origin at 6.54 euros per literwhile in the first week of November this year its price was 5.86 euros/liter (0.68 euros less).
Denounce a non-aggression pact
On the other hand, Facua once again denounces that supermarket chains maintain their pact of non-aggression of private labels. Mercadona applied a reduction on Saturday, November 2 on the container of a liter of extra virgin olive oil from its Hacendado brand, going from 8.85 to 8.20 euros (0.65 euros less) and a few days later the majority of large supermarket chains have done the same with their white brands to once again equalize prices.
On November 5, Alcampo and Eroski applied an identical reduction in their olive oils to also reach 8.20 euros. In the case of Carrefour, it was on November 9 when the price dropped to 8.19 euros (one cent less than the rest of the competitors), while Dia reduced its La Almazara del Olivar brand extra virgin to 8.20 euros on November 12.
The report shows that Hipercor is the only brand that currently maintains a different price to the rest (8.85 euros), since it has not applied the reduction that the others following Mercadona have done.
On the other hand, the consumer organization is still waiting for the Ministry of Social Rights, Consumption and Agenda 2030 to clarify whether it is going to open sanctioning files after the complaints that have been filed due to margin increases in supermarket chains, the last of which was presented in July due to the parallel evolution of the prices of its private labels.
Furthermore, Facua regrets that the National Markets and Competition Commission (CNMC) continues tonot responding after repeated complaints that the organization has made, which it began to send to him in November of last year and for which he still has no response.
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