GCC: Olive Market 2025

Olive Market Size in GCC

In 2022, the GCC olive market decreased by -1.9% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.4% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Olive Production in GCC

In value terms, olive production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 226%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Saudi Arabia (X tons) remains the largest olive producing country in GCC, accounting for 100% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia totaled +6.1%.

In 2022, the average yield of olives in GCC dropped slightly to X tons per ha, remaining relatively unchanged against the previous year's figure. The yield indicated a temperate increase from 2012 to 2022: its figure increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive yield decreased by +1.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the yield increased by 28% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the olive yield failed to regain momentum. 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 GCC fell slightly to X ha, approximately mirroring the previous year. The harvested area increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 32%. Over the period under review, the harvested area dedicated to olive production reached the peak figure at X ha in 2021, and then reduced slightly in the following year.

Olive Exports

Exports in GCC

In 2022, the amount of olives exported in GCC fell significantly to X tons, reducing by -61% compared with the year before. In general, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2021 when exports increased by 91% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, olive exports shrank notably to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 69% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the main exporter of olives, generating 86% of total exports. It was distantly followed by Kuwait (X tons), constituting a 12% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the olives exports, with a CAGR of +12.5% from 2012 to 2022. Kuwait (-16.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +69 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest olive supplier in GCC, comprising 70% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +5.2%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 11% against the previous year. Over the period under review, the export price, however, saw a pronounced slump. The growth pace was the most rapid in 2017 when the export price increased by 26% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.4%).

Olive Imports

Imports in GCC

In 2022, supplies from abroad of olives increased by 15% to X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 38% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, olive imports rose to $X in 2022. Overall, imports, however, continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2014 with an increase of 36% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Oman (X tons) and Kuwait (X tons) represented roughly 80% of total imports in 2022. It was distantly followed by Bahrain (X tons) and Qatar (X tons), together creating a 20% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +2.3%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest olive importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), together comprising 87% of total imports.

In terms of the main importing countries, Oman, with a CAGR of +5.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by -10.5% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive import price increased by +13.9% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 41%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform