El Corte Inglés enters the great olive oil price war with a compelling offer

Over the past year, sunflower oil consumption in Spanish households has grown by almost 40%, but it has not yet overtaken olive oil, which remains the “king of the home” despite its high price.

Each Spaniard, according to EFE, consumes 3.4 liters of sunflower oil and 5.9 liters of olive oil per year, according to the Food Consumption Panel, reflecting a 4.9% decrease in sunflower oil expenditure (271 million euros) and a 32.7% increase in olive oil sales (1,874 million).

Although olive oil prices are expected to begin to fall with the new harvest, towards the last quarter of the year, in 2024 its price has remained high, increasing by 62.8% annually in May, compared with a 17.8% decline in other edible oils, according to the National Statistics Institute (INE).

Olive oil has been in the news for the last few weeks due to its movement following the Spanish government’s VAT cut. Now, El Corte Inglés has also entered the scene with price cuts.

This Saturday, the Spanish multinational is launching a soft olive oil offer of the 0.4 degree Carbonell brand in a five-liter bottle. So from 55.20 euros it now costs 38.09 euros, that is, a liter costs 7.62 euros.

This is reported on its website, where it is added that this is refined extra virgin olive oil.