CIS: Olive Market 2024

Olive Market Size in CIS

The CIS olive market shrank to $X in 2022, reducing by -7.4% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Olive Production in CIS

In value terms, olive production contracted slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 46% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of olive production was Azerbaijan (X tons), accounting for 88% of total volume. Moreover, olive production in Azerbaijan exceeded the figures recorded by the second-largest producer, Uzbekistan (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume in Azerbaijan was relatively modest. In the other countries, the average annual rates were as follows: Uzbekistan (+0.8% per year) and Russia (+0.1% per year).

In 2022, the average yield of olives in the CIS reduced to X kg per ha, which is down by -14% against the previous year's figure. Over the period under review, the yield recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when the yield increased by 40%. The level of yield peaked at X kg per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the olive harvested area in the CIS declined modestly to X ha, with a decrease of -2.3% on the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 67%. The level of harvested area peaked at X ha in 2021, and then shrank slightly in the following year.

Olive Exports

Exports in CIS

In 2022, shipments abroad of olives decreased by -53.9% to X kg, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 6,278%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, olive exports declined remarkably to $X in 2022. Overall, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2014 when exports increased by 6,889% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of olives, namely Belarus, represented more than two-thirds of total export.

Belarus was also the fastest-growing in terms of the olives exports, with a CAGR of +2.5% from 2012 to 2022. While the share of Belarus (+77 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) also remains the largest olive supplier in the CIS.

From 2012 to 2022, the average annual growth rate of value in Belarus amounted to -19.5%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, with a decrease of -90.9% against the previous year. In general, the export price saw a precipitous descent. The pace of growth was the most pronounced in 2018 when the export price increased by 261% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Belarus.

From 2012 to 2022, the rate of growth in terms of prices for Belarus amounted to -21.5% per year.

Olive Imports

Imports in CIS

In 2022, the amount of olives imported in the CIS shrank sharply to X tons, dropping by -41.9% on the previous year's figure. Over the period under review, imports recorded a perceptible downturn. The growth pace was the most rapid in 2021 when imports increased by 1,225%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, olive imports fell dramatically to $X in 2022. Overall, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,209%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Belarus represented the largest importer of olives in the CIS, with the volume of imports amounting to X tons, which was approx. 82% of total imports in 2022. Azerbaijan (X kg) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (5.2%).

Imports into Belarus decreased at an average annual rate of -2.9% from 2012 to 2022. At the same time, Azerbaijan (+6.3%) and Kazakhstan (+1.4%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +6.3% from 2012-2022. Azerbaijan (+11 p.p.) and Kazakhstan (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -3.9% from 2012 to 2022, respectively.

In value terms, Belarus ($X) constitutes the largest market for imported olives in the CIS, comprising 84% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with a 9% share of total imports.

In Belarus, olive imports increased at an average annual rate of +12.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (+21.7% per year) and Kazakhstan (+3.2% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2015 when the import price increased by 152%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belarus ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+15.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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