France: Olive Oil Market 2024

Olive Oil Market Size in France

In 2022, the French olive oil market decreased by -6.6% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then contracted in the following year.

Olive Oil Production in France

In value terms, olive oil production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 79% against the previous year. Olive oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Olive Oil Exports

Exports from France

In 2022, overseas shipments of olive oil and its fractions decreased by -1.5% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 +15.1% against 2017 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 79%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, olive oil exports contracted to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +3.4% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 30%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Germany (X tons), Belgium (X tons) and Denmark (X tons) were the main destinations of olive oil exports from France, with a combined 52% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +41.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for olive oil and its fractions exports from France, comprising 33% of total exports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total exports. It was followed by Denmark, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+3.6% per year) and Denmark (+38.7% per year).

Export Prices by Country

The average olive oil export price stood at $X per ton in 2022, with a decrease of -1.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 22%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the Netherlands ($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 Switzerland (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into France

In 2022, approx. X tons of olive oil and its fractions were imported into France; approximately mirroring the year before. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 32%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, olive oil imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 36%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of olive oil to France, accounting for a 63% share of total imports. Moreover, olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Tunisia (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.7% per year) and Tunisia (+4.1% per year).

In value terms, Spain ($X) constituted the largest supplier of olive oil and its fractions to France, comprising 60% of total imports. The second position in the ranking was held by Italy ($X), with a 26% share of total imports. It was followed by Tunisia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.1% per year) and Tunisia (+5.9% per year).

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, dropping by -8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the average import price increased by 21%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Belgium ($X per ton), while the price for Spain ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :