hi, 1999 Bavaria 34 owner here. We have had some experience in this area. From what I remember the bearing consists of two acrylic half-spheres that rotate over each other, adjustable by a rotating locking nut in the floor under the removable transom access point.
We found we kept on needing to tighten it each year to the point where there was no more capability to do that ... so new bearing needed. Local company reported back to say that only one of the two spherical halves was present - the other had never been fitted! Now all present and correct, and now only minimal adjustment ever needed.
As this has been about the only major manufacturing fault found wrong with the boat since new ..... now has 17,000 miles on the clock .... it was an early build boat with solid doors and proper cupboard doors - lol
...... we didn't make a fuss.
I can't help but think that a synthetic waterproof silicon grease such as used on the Furlex will give you a better long-term result than olive oil ...... good luck!
Cheers .......