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International Olive Oil Prices

  1. Spot buying prices used (ie not moving average, and not futures).
  2. Costing assumes a “cash on order” deal.
  3. Costings are for bulk EVOO in a 21 MT flexitank,
  4. Costings are for EVOO of EU origin. Although one could negotiate a 5% better price by buying from, for example, Argentina/Tunisia/Turkey, oil imported into RSA from outside the EU would attract duty of 10%.
  5. Conversion of Kgs to Lts based on SG of edible oil of 0.92. So, for example, 1 Kg oil translates to 1.087 Lts thereof.
  6. This table updated every week, using
    1. the ruling FNB “casual” Euro selling rate, less 2%, and
    2. the closing EVOO pricing of the preceding day, plus 3% (in practice, we’ve been unable to buy at Poolred rates)

-My intention is full transparency in negotiations, and our spreadsheet workings are available on request. When we buy bulk oil, these values are the starting point for negotiations. Local farmers can expect to achieve a minimum selling price of not less than “import parity”. Producers in the Mediterranean basin generally retain their best quality olive oils for local consumption, and export their lesser oils. Local olive oils are generally superior and, in bulk, command a premium of about 12% (great value for that quality!

DateZAR/EuroAchievable Euro rate/MT (b) (FOB)CIF & Landside (c)Final costing / Lt (a x b x 0.92)/1000 + c
18-Jul-1916.02742387.283.6938.18692135
26-Jul-1916.02742356.413.6937.74084047
1-Aug-1916.17452212.353.6935.95254342
8-Aug-1917.22252263.83.6938.84184722
15-Aug-1917.4282232.933.6938.77621844
22-Aug-1917.19372304.963.6939.42112094
30-Aug-1917.32142243.223.6938.72230895
5-Sep-1916.70822346.123.6939.03221707
12-Sep-1916.46562222.643.6936.68594643
18-Sep-1916.47632222.643.6936.7073885
25-Sep-1916.72682166.0453.6936.35587096
3-Oct-1916.99732160.93.6936.80528616
10-Oct-1916.93692212.353.6937.4732682
17-Oct-1916.77752222.643.6937.31097289
25-Oct-1916.592263.83.6937.55088811
31-Oct-1917.01352531.343.6942.51916491
7-Nov-1916.68682088.873.6935.11667081
15-Nov-1916.60722123.8563.6935.49060531
22-Nov-1916.60222469.63.6940.65631508
28-Nov-1916.53442304.963.6938.05099537
6-Dec-1916.54172366.73.6938.98695604
12-Dec-1916.63472315.253.6938.41376184
19-Dec-1916.992418.153.6940.73166664
24-Dec-1916.0752181.483.6935.30666957
3-Jan-2016.03172263.83.6936.41137431
10-Jan-2016.082150.613.6934.86895881
16-Jan-2016.34592171.193.6935.68783325
24-Jan-2016.23441949.9553.6932.23136467
31-Jan-2016.122382.392253.6938.31519342
7-Feb-2016.67522160.93.6936.17774922
13-Feb-2016.51852197.9443.6936.42415495
20-Feb-2016.54782232.933.6937.00419128
27-Feb-2017.11012263.83.6938.61243409
6-Mar-2017.57691929.3753.6934.26544818
10-Mar-2018.434803.693.69
11-Mar-2018.1353903.693.69
13-Mar-2018.74912263.83.6941.95770206
19-Mar-2018.9782284.383.6942.77703202
26-Mar-2019.2612212.353.6942.10904533
3-Apr-2020.1512263.83.6944.81903895
10-Apr-2019.34992140.323.6941.02974414
17-Apr-2020.45142325.543.6946.57059076
24-Apr-2020.912222.643.6945.5922228
2-May-2021.14452160.93.6944.88514089
9-May-2020.19422366.73.6946.78072161
14-May-2020.17111903.653.6938.31028101
21-May-2020.024920583.6940.84605777
28-May-2019.43511996.263.6938.66983747
5-Jun-2019.41662181.483.6941.87900319
15-Jun-2019.722073.4353.6940.5547454
19-Jun-2019.88082000.3763.6939.54579818
29-Jun-2019.80782130.033.6941.72959334
6-Jul-2019.46732438.733.6946.49390046
13-Jul-2019.23532376.993.6944.91305956

20-Jul-20

19.42

2376.99

3.69

45.31