Algeria: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Algeria

The Algerian virgin olive oil market totaled $X in 2022, therefore, remained relatively stable against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.3% against 2020 indices. Virgin olive oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Virgin Olive Oil Production in Algeria

In value terms, virgin olive oil production declined modestly to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.3% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 50%. Virgin olive oil production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Virgin Olive Oil Exports

Exports from Algeria

After four years of growth, shipments abroad of virgin olive oil decreased by -6.3% to X tons in 2022. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 288%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, virgin olive oil exports contracted to $X in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 248%. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

France (X tons) was the main destination for virgin olive oil exports from Algeria, with a 44% share of total exports. Moreover, virgin olive oil exports to France exceeded the volume sent to the second major destination, Canada (X tons), eightfold. The third position in this ranking was taken by Oman (X tons), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-1.1% per year) and Oman (+22.8% per year).

In value terms, France ($X) remains the key foreign market for virgin olive oil exports from Algeria, comprising 44% of total exports. The second position in the ranking was taken by Canada ($X), with a 7.8% share of total exports. It was followed by Saudi Arabia, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+2.9% per year) and Saudi Arabia (-9.6% per year).

Export Prices by Country

The average virgin olive oil export price stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 15%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+4.0%), while the prices for the other major destinations experienced mixed trend patterns.

Virgin Olive Oil Imports

Imports into Algeria

In 2022, approx. X tons of virgin olive oil were imported into Algeria; picking up by 25% against the previous year's figure. Overall, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2020 with an increase of 237% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, virgin olive oil imports reached $X in 2022. Over the period under review, imports, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 154% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of virgin olive oil imports to Algeria, with a combined 67% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +26.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, France ($X) constituted the largest supplier of virgin olive oil to Algeria, comprising 43% of total imports. The second position in the ranking was held by Turkey ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+14.0% per year) and Italy (-7.0% per year).

Import Prices by Country

In 2022, the average virgin olive oil import price amounted to $X per ton, shrinking by -12.2% against the previous year. Over the period under review, the import price saw a slight setback. The pace of growth appeared the most rapid in 2013 when the average import price increased by 52%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+248.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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