China: Virgin Olive Oil Market 2025

Virgin Olive Oil Market Size in China

The Chinese virgin olive oil market shrank remarkably to $X in 2022, with a decrease of -30.8% 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 continues to indicate a perceptible decrease. Virgin olive oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Virgin Olive Oil Exports

Exports from China

In 2021, approx. X tons of virgin olive oil were exported from China; waning by -34.3% compared with 2020. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 298% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, virgin olive oil exports soared to $X in 2021. Over the period under review, exports showed a perceptible reduction. The pace of growth was the most pronounced in 2013 with an increase of 136%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons), the United States (X tons) and Germany (X tons) were the main destinations of virgin olive oil exports from China, together accounting for 60% of total exports. Canada, Australia, New Zealand and Egypt lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +378.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), the UK ($X) and Canada ($X) were the largest markets for virgin olive oil exported from China worldwide, together comprising 42% of total exports. Germany, New Zealand, Australia and Egypt lagged somewhat behind, together accounting for a further 27%.

Egypt, with a CAGR of +475.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average virgin olive oil export price stood at $X per ton in 2021, increasing by 81% against the previous year. Over the period under review, the export price showed a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into China

For the third year in a row, China recorded decline in purchases abroad of virgin olive oil, which decreased by -54% to X tons in 2022. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by 33%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, virgin olive oil imports fell to $X in 2022. Overall, imports saw a slight reduction. The pace of growth appeared the most rapid in 2021 with an increase of 17%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Greece (X tons) was the main supplier of virgin olive oil to China, with a 92% share of total imports. Moreover, virgin olive oil imports from Greece exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Greece amounted to +18.9%.

In value terms, Greece ($X) constituted the largest supplier of virgin olive oil to China, comprising 83% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Greece stood at +25.2%.

Import Prices by Country

In 2022, the average virgin olive oil import price amounted to $X per ton, increasing by 102% against the previous year. Over the period under review, the import price posted a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Greece amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :