Ethiopia: Olive Oil Market 2024

Olive Oil Market Size in Ethiopia

The Ethiopian olive oil market reduced remarkably to $X in 2022, waning by -30.4% 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 recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Olive Oil Exports

Exports from Ethiopia

In 2021, exports of olive oil and its fractions from Ethiopia stood at X kg, approximately mirroring the previous year. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 502% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, olive oil exports shrank markedly to $X in 2021. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 510% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Namibia (X kg), Swaziland (X kg) and New Zealand (X kg) were the main destinations of olive oil exports from Ethiopia, with a combined 90% share of total exports. Zimbabwe, Switzerland and France lagged somewhat behind, together comprising a further 10%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +155.0%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) emerged as the key foreign market for olive oil and its fractions exports from Ethiopia, comprising 77% of total exports. The second position in the ranking was held by France ($X), with a 16% share of total exports. It was followed by Switzerland, with a 3.7% share.

From 2013 to 2021, the average annual rate of growth in terms of value to New Zealand totaled -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (0.0% per year) and Switzerland (-13.1% per year).

Export Prices by Country

The average olive oil export price stood at $X per ton in 2021, dropping by -30.5% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 1.2% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Namibia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+11.3%), while the prices for the other major destinations experienced a decline.

Olive Oil Imports

Imports into Ethiopia

In 2022, imports of olive oil and its fractions into Ethiopia fell notably to X tons, dropping by -38.9% on the previous year's figure. Over the period under review, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2019 when imports increased by 247%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, olive oil imports declined significantly to $X in 2022. Overall, imports, however, posted a slight increase. The growth pace was the most rapid in 2019 when imports increased by 196%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest olive oil supplier to Ethiopia, accounting for a 64% share of total imports. Moreover, olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-8.8% per year) and Turkey (+7.8% per year).

In value terms, Spain ($X) constituted the largest supplier of olive oil and its fractions to Ethiopia, comprising 68% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by Turkey, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-8.2% per year) and Turkey (+6.9% per year).

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, jumping by 24% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 45% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Egypt ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform