Luxembourg: Olive Oil Market 2024

Olive Oil Market Size in Luxembourg

In 2022, after two years of growth, there was decline in the Luxembourg olive oil market, when its value decreased by -1.1% to $X. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Olive oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Olive Oil Exports

Exports from Luxembourg

In 2022, the amount of olive oil and its fractions exported from Luxembourg dropped remarkably to X tons, declining by -17% on 2021. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 62% against the previous year. The exports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, olive oil exports contracted to $X in 2022. In general, exports, however, saw strong growth. The pace of growth was the most pronounced in 2018 when exports increased by 60% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of olive oil exports from Luxembourg, with a combined 97% 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 Belgium (with a CAGR of +9.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for olive oil exported from Luxembourg were Belgium ($X), France ($X) and Azerbaijan ($X), together accounting for 93% of total exports.

France, with a CAGR of +10.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average olive oil export price stood at $X per ton in 2022, growing by 2.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 38%. 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 Azerbaijan ($X per ton), while the average price for exports to Belgium ($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 France (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into Luxembourg

Olive oil imports into Luxembourg was estimated at X tons in 2022, therefore, remained relatively stable against the previous year's figure. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 11%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, olive oil imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Portugal (X tons) and Italy (X tons) were the main suppliers of olive oil imports to Luxembourg, together accounting for 72% of total imports. Spain, France, Germany and Greece lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +25.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest olive oil suppliers to Luxembourg were Italy ($X), Belgium ($X) and Portugal ($X), with a combined 69% share of total imports. France, Spain, Germany and Greece lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Greece, with a CAGR of +23.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, waning by -2.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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