Austria: Olive Oil Market 2024

Olive Oil Market Size in Austria

The Austrian olive oil market fell to $X in 2022, shrinking by -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Olive oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Olive Oil Exports

Exports from Austria

In 2022, approx. X tons of olive oil and its fractions were exported from Austria; dropping by -6.6% on the previous year. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +115.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 111%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, olive oil exports reduced to $X in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 115%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Switzerland (X tons), Germany (X tons) and France (X tons) were the main destinations of olive oil exports from Austria, with a combined 88% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +114.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Germany ($X) and France ($X) were the largest markets for olive oil exported from Austria worldwide, together accounting for 87% of total exports.

France, with a CAGR of +115.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average olive oil export price amounted to $X per ton, declining by -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 16%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Switzerland ($X per ton), while the average price for exports to Germany ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into Austria

After four years of growth, purchases abroad of olive oil and its fractions decreased by -6.9% to X tons in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 17%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, olive oil imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Italy (X tons), Greece (X tons) and Spain (X tons) were the main suppliers of olive oil imports to Austria, together comprising 90% of total imports. Germany lagged somewhat behind, comprising a further 8.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +13.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest olive oil suppliers to Austria were Italy ($X), Greece ($X) and Spain ($X), together comprising 88% of total imports. Germany lagged somewhat behind, accounting for a further 10%.

In terms of the main suppliers, Germany, with a CAGR of +14.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, dropping by -3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, 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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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