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Virgin Olive Oil imports reached a peak of 91K tons in 2020, but failed to regain momentum from 2021 to 2023. In terms of value, imports surged to $517M in 2023.
The olive oil industry, led by Deoleo, anticipates halved prices with improved production forecasts, signaling recovery after recent price spikes.
Discover the latest trends in the virgin olive oil market with an expected increase in consumption over the next seven years. Anticipate a rise in market volume to 3.9M tons and market value to $24.4B by 2030.
The growth of Virgin Olive Oil exports from 2015 to 2023 remained relatively lower, with exports expanding slightly to $3.1B in 2023.
During the period analyzed, Virgin Olive Oil imports peaked at 572K tons in 2020, but maintained a lower level from 2021 to 2023. In terms of value, the imports of Virgin Olive Oil significantly increased to $2.3B in 2023.
Explore the top import markets for virgin olive oil in 2023 according to IndexBox market intelligence platform. Discover key statistics and trends in the global olive oil market.
From 2015 to 2023, the growth of Virgin Olive Oil exports remained modest, reaching $3.1B in value by 2023.
In November 2022, the price of Virgin Olive Oil was $4,374 per ton (CIF, Qatar), showing a decrease of 5.8% compared to the previous month.
Discover the top import markets for virgin olive oil and their importance in the global market. Italy, the United States, Spain, France, and Brazil lead the way, driven by culinary culture and health-conscious consumers.
In November 2022, the virgin olive oil price amounted to $6,013 per ton (CIF, Mexico), jumping by 15% against the previous month.
High prices and growing demand in the olive oil market have spurred investments to expand and mechanize plantations that will automate the production process. This will enable increased production in the EU from a projected 2.2M tons in 2021 to 2.3M tons by 2025. Thanks to rising demand from Asia, top European exporters - Spain, Italy and Portugal - will be able to boost shipments.
European virgin olive oil exports soared by +11% y-o-y to 1.5M tons or $5.2B in 2020. Spain remains the key virgin olive oil supplier in the EU, accounting for 56% of the total European exports in physical terms. Greece and Italy have significantly strengthened their positions in terms of exports, ramping up the volume of supplies abroad. Greece emerged as the fastest-growing European exporter in 2020. The average price for virgin olive oil in the EU dropped by -6.3% y-o-y last year to $3,370 per ton.
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