GCC: Preserved Olive Market 2024

Preserved Olive Exports

Exports in GCC

Preserved olive exports surged to X tons in 2021, picking up by 40% compared with the previous year. In general, exports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2013 when exports increased by 104% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved olive exports soared to $X in 2021. Over the period under review, exports saw strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 117% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the major exporter of olives prepared or preserved, achieving 45% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 30% share, followed by Oman (24%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +17.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Saudi Arabia ($X) remains the largest preserved olive supplier in GCC, comprising 75% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total exports.

In Saudi Arabia, preserved olive exports increased at an average annual rate of +14.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-10.7% per year) and Oman (+19.3% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 14% against the previous year. Overall, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 when the export price increased by 79%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.6%), while the other leaders experienced more modest paces of growth.

Preserved Olive Imports

Imports in GCC

In 2021, the amount of olives prepared or preserved imported in GCC was estimated at X tons, with an increase of 12% compared with 2020 figures. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved olive imports skyrocketed to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.3% against 2018 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Saudi Arabia was the major importer of olives prepared or preserved in GCC, with the volume of imports finishing at X tons, which was near 55% of total imports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 23% share, followed by Oman (8.7%) and Kuwait (6.4%). The following importers - Bahrain (X tons) and Qatar (X tons) - each amounted to a 7.5% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved olive imports into Saudi Arabia stood at +9.8%. At the same time, Oman (+13.0%), the United Arab Emirates (+11.5%), Bahrain (+10.1%), Qatar (+4.0%) and Kuwait (+1.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +13.0% from 2012-2021. The United Arab Emirates (+3.6 p.p.), Oman (+2.2 p.p.) and Saudi Arabia (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Qatar and Kuwait saw its share reduced by -2.1% and -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported olives prepared or preserved in GCC, comprising 51% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total imports. It was followed by Oman, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled +10.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+10.1% per year) and Oman (+14.2% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, rising by 3.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 7.3%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kuwait ($X per ton) and the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform