Poland: Olive Oil Market 2024

Olive Oil Market Size in Poland

In 2022, the Polish olive oil market decreased by -21.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a strong increase. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Olive Oil Production in Poland

In value terms, olive oil production dropped remarkably to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 4,725,505,700%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Olive Oil Exports

Exports from Poland

In 2022, approx. X tons of olive oil and its fractions were exported from Poland; increasing by 15% against 2021 figures. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,683% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, olive oil exports amounted to $X in 2022. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 1,208%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for olive oil exports from Poland, with a 74% share of total exports. Moreover, olive oil exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+8.9% per year) and Belarus (+125.6% per year).

In value terms, Russia ($X) remains the key foreign market for olive oil and its fractions exports from Poland, comprising 74% of total exports. The second position in the ranking was held by Ukraine ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+16.8% per year) and Belarus (+131.8% per year).

Export Prices by Country

The average olive oil export price stood at $X per ton in 2022, dropping by -7.2% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive oil export price increased by +6.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 28%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Ukraine ($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 Ukraine (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into Poland

After two years of growth, purchases abroad of olive oil and its fractions decreased by -2.2% to X tons in 2022. In general, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 31,455%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced modestly in the following year.

In value terms, olive oil imports dropped to $X in 2022. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 29,444%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Italy (X tons), Spain (X tons) and Greece (X tons) were the main suppliers of olive oil imports to Poland, together comprising 92% of total imports. These countries were followed by Germany, which accounted for a further 7.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +35.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Germany ($X) were the largest olive oil suppliers to Poland, with a combined 91% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +38.3%, 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, declining by -5.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the average import price increased by 28% 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 somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Italy ($X per ton), while the price for Spain ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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