France: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in France

In 2022, after two years of growth, there was significant decline in the French virgin olive oil market, when its value decreased by -6.6% to $X. 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. Virgin olive oil consumption peaked at $X in 2021, and then dropped in the following year.

Virgin Olive Oil Production in France

In value terms, virgin olive oil production dropped to $X in 2022 estimated in export price. In general, production showed a slight reduction. The pace of growth was the most pronounced in 2016 with an increase of 79%. Virgin olive oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Virgin Olive Oil Exports

Exports from France

In 2022, overseas shipments of virgin olive oil decreased by -1.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total exports indicated a buoyant expansion 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 pace of growth appeared the most rapid in 2015 with an increase of 79% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, virgin olive oil exports reduced slightly to $X in 2022. In general, total exports indicated strong growth 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 growth pace was the most rapid in 2015 with an increase of 30%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Germany (X tons), Belgium (X tons) and Denmark (X tons) were the main destinations of virgin 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 ($X) remains the key foreign market for virgin olive oil exports from France, comprising 33% of total exports. The second position in the ranking was taken by Belgium ($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 growth rate 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 virgin olive oil export price stood at $X per ton in 2022, falling by -1.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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.

Virgin Olive Oil Imports

Imports into France

In 2022, the amount of virgin olive oil imported into France amounted to X tons, remaining constant against the year before. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 32% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, virgin olive oil imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 36% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest virgin olive oil supplier to France, accounting for a 63% share of total imports. Moreover, virgin 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 growth rate of volume from Spain amounted to +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 ($X) constituted the largest supplier of virgin olive oil to France, comprising 60% of total imports. The second position in the ranking was held by Italy ($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

In 2022, the average virgin olive oil import price amounted to $X per ton, with a decrease of -8.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

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