Olive Oil (EVOO)

Extra virgin olive oil trade begins with a narrow product identity—not a premium-sounding label applied to every olive oil. The International Olive Council defines extra virgin olive oil as virgin olive oil obtained from olive fruit solely by mechanical or other physical means, fit for consumption as it is, with free acidity of no more than 0.8 grams per 100 grams and the other required physicochemical and organoleptic characteristics. A comparable offer identifies the governing standard and category, origin and crop year, cultivar or blend, harvest and milling dates, extraction and temperature record where claimed, filtration state, free acidity and full analytical certificate, accredited laboratory and method, sensory-panel result, authenticity and adulteration tests, protected-origin certificate where applicable, bulk or retail pack, container and storage conditions, lot and net quantity, traceability, currency, Incoterm, destination, delivery window and information vintage. A sector forecast, national average price or unsupported quality adjective does not establish that a lot is extra virgin or supply its delivered price.

Editorial evidence reviewedReviewed 2026-09-12Release 2026-09-19-batch-230

Market value

$11B

Producing countries tracked

9

Grading systems

1

Active supply risks

3

Trade corridors

3

Latest reviewed evidence

The figures below combine the USDA Economic Research Service's January 14, 2026 market-year outlook with the International Olive Council's current 2026 category standard. They are dated sector context and specification limits—not current lot availability, certification, a sensory result or a live delivered EVOO price.

World olive-oil production forecast

3.3

million metric tons · marketing year 2025/26 forecast, USDA ERS 2026-01-14

European Union olive-oil production forecast

2.1

million metric tons · marketing year 2025/26 forecast, USDA ERS 2026-01-14

Tunisia olive-oil production forecast

0.43

million metric tons · marketing year 2025/26 forecast, USDA ERS 2026-01-14

World olive-oil trade forecast

1.5

million metric tons · marketing year 2025/26 forecast, USDA ERS 2026-01-14

European Union share of world olive-oil trade

53

percent · marketing year 2025/26 forecast, USDA ERS 2026-01-14

United States olive-oil import forecast

0.48

million metric tons · marketing year 2025/26 forecast, USDA ERS 2026-01-14

Extra virgin free-acidity ceiling

0.8

grams oleic acid per 100 grams oil · IOC trade standard Rev.22/2026

Extra virgin is a tested category, not a generic premium tier

The IOC limits virgin olive oils to oil obtained from olives solely by mechanical or other physical means without treatments beyond washing, decantation, centrifugation and filtration. Extra virgin is the edible virgin category with free acidity no greater than 0.8 grams per 100 grams and the standard's additional chemistry and sensory requirements. Virgin, lampante, refined olive oil, blends and olive-pomace oils follow different definitions. Atlas keeps the exact category, process and evidence attached instead of treating the labels as interchangeable.

Chemical evidence and sensory evidence travel together

Free acidity alone does not prove extra virgin status. The current IOC framework includes physicochemical characteristics, recognised analytical methods and organoleptic assessment. A tradeable record therefore retains the full certificate of analysis, method and laboratory, sample and lot identity, sensory-panel result, harvest and milling dates, origin, cultivar or blend, filtration and storage state, and any protected-origin certificate. Atlas does not infer certification from a seller description or one passing value.

The 2025/26 recovery forecast spans multiple grades and origins

USDA ERS forecast 3.3 million metric tons of world olive-oil production and 1.5 million metric tons of trade for marketing year 2025/26. Its outlook placed EU production at 2.1 million metric tons, Tunisia at 0.43 million, the EU at 53 percent of world trade and U.S. imports at 0.48 million metric tons. These are dated all-category sector aggregates; they do not state EVOO availability, certify a crop or describe a particular lot.

A standard or market average is not a delivered EVOO price

A delivered extra virgin olive oil estimate still needs a defined standard and certified category, current permitted physical observations, origin and crop, cultivar or blend, harvest and milling dates, chemistry and sensory evidence, authenticity results, filtration and storage state, bulk or retail pack, lot quantity, currency, Incoterm, destination, delivery window, freight and information vintage. Atlas withholds a physical estimate when those observations or usage rights are missing.

Questions procurement teams ask

Is every mechanically extracted olive oil extra virgin?

No. Mechanical or physical extraction establishes the virgin-oil family, but extra virgin also requires the category's physicochemical and organoleptic characteristics, including free acidity no greater than 0.8 grams per 100 grams under the current IOC standard.

Does a free-acidity result of 0.8 percent prove extra virgin status?

No. It satisfies one ceiling only. The remaining chemistry, sensory assessment, methods, sample identity and traceable lot evidence must also conform to the applicable standard.

What does the 3.3-million-ton forecast represent?

It is USDA ERS's January 2026 forecast for total world olive-oil production in marketing year 2025/26. It combines origins and categories and is not an EVOO lot volume or current price.

Which fields make physical EVOO offers comparable?

Applicable standard and category, origin and crop, cultivar or blend, harvest and milling dates, extraction claim, filtration, free acidity and full analytical results, laboratory and method, sensory-panel result, authenticity evidence, protected-origin certificate where relevant, pack and storage, lot and traceability, quantity, currency, Incoterm, destination, delivery window and evidence date.

Sources and provenance

Figures retain their source, period and review date. Corroboration is not promoted to primary evidence.

Oil Crops Outlook: January 2026

USDA Economic Research Service · Primary USDA January 14, 2026 world olive-oil production, trade, EU, Tunisia and U.S. import forecast · accessed 2026-09-12

IOC Standards, Methods and Guides

International Olive Council · Primary intergovernmental source for the current trade standard COI/T.15/NC No 3/Rev.22/2026 and recognised analysis and sensory methods · accessed 2026-09-12

Olive Oils — Designations and Definitions

International Olive Council · Primary intergovernmental explanation of current virgin, extra virgin, refined and olive-pomace category boundaries · accessed 2026-09-12

Olive Oil — Market Data

European Commission Directorate-General for Agriculture and Rural Development · Primary official EU hub for dated production, balance-sheet, price and trade releases by olive-oil quality · accessed 2026-09-12

Grading systems

National and regional grading frameworks defining tradeable quality.

Country-level production, share of global output, exporter/importer status.

Active and seasonal supply-side risks — weather, disease, geopolitical, regulatory.

Required export and import documents per origin-destination corridor.