Belgium: Olive Market 2024

Olive Market Size in Belgium

The Belgian olive market soared to $X in 2022, rising by 80% 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). Over the period under review, consumption enjoyed a resilient increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Olive Exports

Exports from Belgium

In 2022, approx. X tons of olives were exported from Belgium; jumping by 61% compared with the previous year. Over the period under review, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of 361%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, olive exports surged to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 171% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Germany (X tons) and Romania (X tons) were the main destinations of olive exports from Belgium, together accounting for 91% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +32.8%), while the other leaders experienced a decline.

In value terms, France ($X) remains the key foreign market for olives exports from Belgium, comprising 63% of total exports. The second position in the ranking was held by Luxembourg ($X), with a 13% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (-9.6% per year) and Germany (-1.8% per year).

Export Prices by Country

In 2022, the average olive export price amounted to $X per ton, surging by 14% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive export price decreased by -0.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 80% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Germany ($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 France (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Imports

Imports into Belgium

Olive imports into Belgium surged to X tons in 2022, increasing by 43% compared with 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 60% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, olive imports soared to $X in 2022. In general, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), France (X tons) and Spain (X tons) were the main suppliers of olive imports to Belgium, with a combined 80% share of total imports. Italy, Germany, Greece and Sweden lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +66.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of olives to Belgium, comprising 60% of total imports. The second position in the ranking was taken by France ($X), with a 16% share of total imports. It was followed by Italy, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at +35.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.3% per year) and Italy (+11.8% per year).

Import Prices by Country

In 2022, the average olive import price amounted to $X per ton, with an increase of 39% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive import price increased by +114.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the Netherlands ($X per ton), while the price for Germany ($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 (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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