18.05.2026, 12:35
Olive oil has fallen in price in Russia
Source: OREANDA-NEWS
OREANDA-NEWS In the first quarter of 2026, average prices for olive oil in Russian retail decreased by 14.5 percent. This is reported by the newspaper Vedomosti with reference to Rosstat data.
The product has fallen in price to 1,519 rubles per liter. As stated by the Chairman of the Association of Omnichannel Retail Companies (ACORT) Stanislav Bogdanov, olive oil is almost not produced in Russia, and prices depend on the global situation and import conditions.
Olive oil prices have been rising since 2024 due to the heat and drought in Spain, which accounts for almost half (40-45 percent) of global production. From January to December, according to Rosstat, it rose in price year-on-year by 26 percent, to 1,780 rubles. However, last year, as the agency points out, a correction began, which continued as early as 2026.
Despite the good harvests in Europe, producers still have high costs for the production of glass containers, logistics, electricity, manual labor and irrigation, so a strong decline in prices should not be expected in the near future. The current trend may continue for several more quarters, Bogdanov says, but much will depend on weather conditions in the largest olive oil producing countries.
By the end of January 2026, the cost of exporting olive oil from the European Union to Russia fell to a minimum in 2.5 years and amounted to 4.5 million euros. For comparison, the figure was at 4.7 million euros a year earlier. Thus, in 12 months, the total value of European olive oil exports to Russia decreased by 200,000 in monetary terms.
The product has fallen in price to 1,519 rubles per liter. As stated by the Chairman of the Association of Omnichannel Retail Companies (ACORT) Stanislav Bogdanov, olive oil is almost not produced in Russia, and prices depend on the global situation and import conditions.
Olive oil prices have been rising since 2024 due to the heat and drought in Spain, which accounts for almost half (40-45 percent) of global production. From January to December, according to Rosstat, it rose in price year-on-year by 26 percent, to 1,780 rubles. However, last year, as the agency points out, a correction began, which continued as early as 2026.
Despite the good harvests in Europe, producers still have high costs for the production of glass containers, logistics, electricity, manual labor and irrigation, so a strong decline in prices should not be expected in the near future. The current trend may continue for several more quarters, Bogdanov says, but much will depend on weather conditions in the largest olive oil producing countries.
By the end of January 2026, the cost of exporting olive oil from the European Union to Russia fell to a minimum in 2.5 years and amounted to 4.5 million euros. For comparison, the figure was at 4.7 million euros a year earlier. Thus, in 12 months, the total value of European olive oil exports to Russia decreased by 200,000 in monetary terms.
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