Some olive oil prices increase 75% in a month

The same extra virgin olive oil is up to 75% more expensive than a month ago in the same distribution chain, according to a new study carried out in October by FACUA-Consumers in Action on the evolution of the prices of virgin and extra virgin olive oil.

FACUA will send the data it has collected to the Ministry of Consumer Affairs in an expansion of the complaints presented last month, in which it requests the department headed by Alberto Garzón to open an investigation into the increases in profit margins that are presumably occurring both in olive oil as in the rest of the foods affected by the IVA reduction. Prohibited increases while the tax measure is in force.

The association has carried out a comparative analysis of 345 prices of 70 different brands of virgin or extra virgin olive oil, in different formats (plastic, glass, can or spray), on sale in eight of the main supermarket chains and hypermarkets in the country: Mercadona, Dia, Hipercor, Alcampo, Lidl, Aldi, Eroski and Carrefour. Price taking took place on September 3 and 4, and October 3.

The 5-litre plastic bottle of Carbonell extra virgin is sold at the beginning of October at Carrefour 74.8% more expensive than a month ago. This product was on sale at the beginning of September for 36.95 euro, while it currently costs 64.59 euro. It has risen no less than 27.64 euro, which represents an increase of 5.53 euro per litre. In Alcampo, this same bottle is sold for 49.99 euro (6.3% more than a month ago) and in Hipercor for 46.95 euro (up 6.8%).

In second place in the ranking of increases in a single month is the 5-litre plastic bottle of extra virgin Picual Fuente Sierra in Alcampo, where it has gone from 23.81 to 39.99 euro, 68.0% more expensive (16.18 euro variation that represents an increase of 3.24 euro per litre). In third place, the 1 litre bottles of Carbonell extra virgin 100% Hojiblanca, Arbequina and Picual at Hipercor, which in September sold them for 9.32 euro and now for 14.50 euro, 55.6% more (5.18 euro).

The biggest price difference between the same brand depending on the establishment where it is sold is currently found in the 1-litre plastic bottle of Carbonell 100% Hojiblanca extra virgin. It ranges from 9.31 euro in Alcampo to 14.50 euro in Hipercor, which represents a difference of 55.7% (5.19 euro/litre).

The second largest variation is in the 5-liter plastic bottle of Maestros extra virgin from Hojiblanca, which is sold for 41.50 euro in Alcampo compared to 64.59 euro at Carrefour, 55.6% more expensive (23. 09 euro difference, which is 4.62 euro per litre). In third place is the 1-litre plastic bottle of Coosur Hojiblanca extra virgin, which is sold for 8.68 euro in Alcampo and for 11.99 euro in Hipercor, 38.1% more (3.31 euro).

Of the 345 prices of virgin and extra virgin olive oil collected in this study, 126 have become more expensive compared to the price they had at the beginning of September (36.5%), while 39 of them have fallen (11, 3%). The remaining 180 (52%) are sold at the same price they were sold a month ago.

By supermarkets, in Hipercor 32 of the 65 oils contemplated in this study have become more expensive (49.2%). At Carrefour, 28 of the 59 products analysed cost more than a month ago (47.4%) and at Eroski, 27 of the 67 oils in the sample (40.2%).

On the opposite side is Mercadona and Lidl. These two supermarkets today maintain the same price for their olive oils compared to what they had at the beginning of September. In Dia and Aldi, for their part, only the increase in price of one product has been recorded over a sample of 22 and 6 prices respectively.

Although drought and lack of rainfall are argued to be the main cause of this price increase in virgin and extra virgin olive oil, FACUA once again asks the Ministry of Agriculture, Fisheries and Food to carry out greater control of the production chain and investigate whether there is speculation by large distribution chains or other intermediaries when applying profit margins to these products.

The association recalls that the Government can set maximum prices or limit marketing margins as permitted by the commercial law. In its article 13, relating to the freedom of prices, Law 7/1996, of January 15, on the Regulation of Retail Trade, establishes that “the State Government, after hearing the affected sectors, may set the prices or marketing margins of certain products, as well as subjecting their modifications to control or prior administrative authorisation.”

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