Israel: Olive Oil Market 2024

Olive Oil Market Size in Israel

The Israeli olive oil market dropped modestly to $X in 2022, approximately mirroring the previous year. The market value 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. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Olive Oil Production in Israel

In value terms, olive oil production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, showed a slight reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Olive Oil Exports

Exports from Israel

In 2022, overseas shipments of olive oil and its fractions decreased by -27.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 119% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, olive oil exports fell dramatically to $X in 2022. Overall, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 162%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for olive oil exports from Israel, accounting for a 21% share of total exports. Moreover, olive oil exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-6.4% per year) and Canada (+0.5% per year).

In value terms, the United States ($X) remains the key foreign market for olive oil and its fractions exports from Israel, comprising 21% of total exports. The second position in the ranking was held by Japan ($X), with a 6.1% share of total exports. It was followed by Ghana, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-8.7% per year) and Ghana (+10.1% per year).

Export Prices by Country

The average olive oil export price stood at $X per ton in 2022, falling by -5.1% against the previous year. In general, the export price showed a pronounced curtailment. The growth pace was the most rapid in 2021 an increase of 19% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Japan ($X per ton), while the average price for exports to France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-0.5%), while the prices for the other major destinations experienced a decline.

Olive Oil Imports

Imports into Israel

Olive oil imports into Israel fell to X tons in 2022, reducing by -5.6% against 2021. In general, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 70% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, olive oil imports shrank to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 78%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of olive oil to Israel, with a 47% share of total imports. Moreover, olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.5% per year) and Turkey (+78.0% per year).

In value terms, Spain ($X) constituted the largest supplier of olive oil and its fractions to Israel, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with a 22% share of total imports. It was followed by Turkey, with a 19% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.9% per year) and Turkey (+80.2% per year).

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, with a decrease of -3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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 countries with the highest prices were Greece ($X per ton) and Turkey ($X per ton), while the price for Spain ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform