Italy: Olive Market 2024

Olive Market Size in Italy

The Italian olive market fell modestly to $X in 2022, stabilizing at the previous year. In general, consumption, however, showed a relatively flat trend pattern. Olive consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Olive Production in Italy

In value terms, olive production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% 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 2015 with an increase of 21%. Olive production peaked at $X in 2019; afterwards, it flattened through to 2022.

In 2022, the average olive yield in Italy contracted to X tons per ha, waning by -2.1% on the year before. Over the period under review, the yield continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. Over the period under review, the average olive yield reached the maximum level at X tons per ha in 2012; however, from 2013 to 2022, the 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.

The olive harvested area in Italy reached X ha in 2022, remaining constant against 2021 figures. Overall, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the harvested area increased by 1.9% against the previous year. Over the period under review, the harvested area dedicated to olive production reached the peak figure at X ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Olive Exports

Exports from Italy

Olive exports from Italy declined rapidly to X tons in 2022, which is down by -25.9% compared with the year before. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 56% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, olive exports reduced dramatically to $X in 2022. Overall, exports continue to indicate a slight shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 38%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), France (X tons) and Greece (X tons) were the main destinations of olive exports from Italy, with a combined 50% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +86.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for olive exported from Italy were Germany ($X), France ($X) and Belgium ($X), together comprising 55% of total exports. The Netherlands, Greece, Spain, Denmark, the Czech Republic, Sweden, Switzerland, Romania, Jordan and Ukraine lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Greece, with a CAGR of +79.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average olive export price stood at $X per ton in 2022, surging by 3.3% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price 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, olive export price increased by +21.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 33% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Greece ($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 Denmark (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Imports

Imports into Italy

In 2022, approx. X tons of olives were imported into Italy; declining by -21.6% compared with the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 147%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, olive imports fell remarkably to $X in 2022. In general, imports, however, showed moderate growth. The most prominent rate of growth was recorded in 2021 with an increase of 184%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of olive to Italy, with a 76% share of total imports. Moreover, olive imports from Greece exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece amounted to +2.4%.

In value terms, Greece ($X) constituted the largest supplier of olives to Italy, comprising 79% of total imports. The second position in the ranking was taken by Spain ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Greece totaled +3.9%.

Import Prices by Country

The average olive import price stood at $X per ton in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2013 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Spain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+1.5%).

Source: IndexBox Platform

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