Olive oil prices in Croatia keep soaring, now double EU average

The average price of extra virgin olive oil in Croatia rose sharply in April, reaching €11.40 per litre – an 18% increase compared to March, according to the latest data from the Ministry of Agriculture.

This puts Croatian olive oil significantly above the European Union average. Consumers in Croatia are now paying more than double the EU average price, Danica.hr reports.

In April, the average price per kilogram of olive oil in Croatia stood at €12.50. For comparison, the EU average is €6.13 per kilogram.

In some member states, prices are far lower – Spain reports just €3.96 per kilogram, while Italy averages €9.55. That means Croatian olive oil is nearly three times more expensive than its Spanish counterpart.

So, what’s behind the steep rise?

One key factor is a significant drop in domestic production. In 2022, Croatia produced just over 38,000 hectolitres of olive oil – a decrease of 30% compared to the previous year.

Similarly, olive production fell to 30,000 tonnes, down 25% from 40,000 tonnes the year before.

As a result, self-sufficiency in olive oil production in 2023 is estimated to have dropped below 50%, highlighting a growing dependence on imports to meet domestic demand, Danica.hr writes.

With reduced supply and growing pressure on local producers, prices have surged – leaving Croatian consumers paying some of the highest rates for olive oil in Europe.