Alcampo pulls out of olive oil price war

The temporary reduction of VAT on olive oil to 0% is about to complete its first 30 days of life and the open war between supermarkets with the price of oil as a grievance is becoming increasingly intense, with changes in offers, including in the same week.

Although the price of olive oil remains high compared to the price recorded before the crisis, which producers and experts attribute to the drought that affected the production areas, and that despite the fact that 2024 began with an annual increase of 63%, they seem to have stopped at the achieved level of stability and those moments when on the shelves of many supermarkets it reached 12 euros seem distant.

Distribution networks are therefore forced to adapt their sales strategy to avoid losing market share, especially in conditions such as the current one, where they are forced to balance between high prices and disproportionate offers that could have negative consequences for the sector, such as an uncontrolled increase in demand and the depletion of already measurable stocks.

Change of course in Alcampo

Three weeks after welcoming the reduction of VAT on olive oil to 0% with the launch of offers and discounts, In field made a radical turn in the pricing policy of its “white label”. Thus, according to the portal Olimerka, French supermarkets Auchan decided raise the prices of the “liquid gold” they sell through their “white label” to match the price of Mercadona oilThus, from the 8.05 euros that were paid per litre on 16 July, five days later it rose to 8.95 euros for the same amount, although far from the 9.18 euros with which the month began in July.

When comparing prices by oil, extra virgin olive oil can be found at similar prices in most supermarkets. Alcampo, Mercadona, AhorraMas and Hipercor were offering it at €8.95 per litre a week ago, while Lidl and Carrefour are slightly cheaper at €8.89/litre and €8.93/litre respectively. Dia, on the other hand, has the highest price in this category: €8.99/litre.

As for extra virgin olive oil, the price differences between establishments are more noticeable. The lowest is at Alcampo (8.14 euros/litre), followed by Carrefour (8.25 euros/litre) and Lidl (8.29 euros/litre). Mercadona, AhorraMas, Hipercor and Dia sell it at 8.30 euros/litre.

As for the prices of soft and rich olive oils, both remain very similar. Both Alcampo and Carrefour sell them at €7.60 per litre. Lidl is slightly cheaper: €7.55/litre for light and rich wine. On the other hand, Mercadona, AhorraMas, Hipercor and Dia have set the price for these varieties at €7.62/litre.