Shoppers can only get bottles of the oil once a member of staff has released them from a security case.
Co-op said its food business lost £33 million to costs including shoplifting this year.
The supermarket is pushing for police forces to take store crime more seriously.
A Co-op has been forced to keep £7.50 extra virgin olive oil locked away after a spate of thefts.
Shoppers at the convenience store on Sprowston Road, in Norwich, can only get bottles of the oil once a member of staff has released them from a security case.
The extreme measure comes amid concerns over increased shoplifting with criticism that police are no longer treating it as a crime.
Co-op said its food business lost £33 million to costs this year, including shoplifting, as it reported the highest ever levels of shop crime.
The group called for more action from police as it said the vast majority of offenders get away.
A spokesperson for Co-op said: "Protecting the safety of our colleagues is a priority and we know shoplifting can be a flashpoint for violence against shop workers.
"So, whilst this is not a nationwide policy, a decision to implement product security measures at a local level will be made, if a store is experiencing a particular issue."
Co-op is pushing for police forces across the UK to take store crime more seriously and tackle prolific offenders.
Earlier this week Matt Hood, Co-op food managing director, said police officers attend about two in 10 thefts – meaning offenders have to be let go.
He added: “A rise in shop looting and retail crime perpetuated by repeat, prolific offenders and organised criminal gangs is becoming genuinely one of the most significant issues facing UK communities.
“One of the things that makes me most angry is those that claim this is a victimless crime – it is fundamentally not, as my store colleagues who have been verbally abused, or have had knives or syringes pulled on them, can all vouch for.”
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Stats on shoplifting
The British Retail Consortium (BRC) said reported retail thefts had risen by 27% across 10 of the UK's largest cities - and were up by 68% in some places.
The Federation of Independent Retailers (NFRN), which has 10,500 members, said 850 theft or verbal abuse incidents were recorded across its members daily, and incidents had increased 25% in the last year.
NFRN president Muntazir Dipoti is calling on the government to give a grant of £1,500 to independent retailers to improve their security.
He said: “The majority of retailers have got CCTV but their cameras might not be the latest technology, for example HD cameras, we feel £1,500 would suffice to get them where they need to be.
“Retailers would feel like they’ve been listened to and supported and it’ll give them that confidence."
What is being done to tackle shoplifting
Co-op has invested more than £200 million over the past few years to improve security in stores and the safety of staff – including body cameras, CCTV and even artificial intelligence cameras.
Co-op is also among 10 of the UK’s biggest retailers which have agreed to fund a police operation to crack down on shoplifting, dubbed Project Pegasus.
The companies are expected to pay around £600,000 towards the project, which will utilise CCTV pictures and facial recognition technology to get a better understanding of shoplifting operations.
It is said that the project will benefit all retailers.
A Home Office spokesperson said: “Shoplifting strikes at the heart of the British high street, and the Policing Minister has asked forces to take a zero tolerance approach to this crime.
“By enabling retailers to share better information on shoplifting with police forces and build up a national strategic picture, Project Pegasus will help crack down on criminal gangs across the country.”
Home office minister Chris Philp added: “We have record police numbers and I expect them to help all retailers.
“This scheme will help all retailers, not just the big ones, as it will identify criminal gangs.
“It is an important part of the response.”