Slovenia: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Slovenia

After two years of growth, the Slovene virgin olive oil market decreased by -4.3% to $X in 2022. The market value increased at an average annual rate of +4.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Virgin olive oil consumption peaked at $X in 2021, and then shrank slightly in the following year.

Virgin Olive Oil Production in Slovenia

In value terms, virgin olive oil production amounted to $X in 2022 estimated in export price. In general, production saw a strong increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 445%. Virgin olive oil production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Virgin Olive Oil Exports

Exports from Slovenia

After three years of growth, overseas shipments of virgin olive oil decreased by -13.9% to X tons in 2022. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 323% against the previous year. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, virgin olive oil exports contracted sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 194%. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Croatia (X tons) was the main destination for virgin olive oil exports from Slovenia, with a 70% share of total exports. Moreover, virgin olive oil exports to Croatia exceeded the volume sent to the second major destination, Maldives (X tons), ninefold. The third position in this ranking was taken by Switzerland (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia stood at +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+771.0% per year) and Switzerland (+58.8% per year).

In value terms, Croatia ($X) remains the key foreign market for virgin olive oil exports from Slovenia, comprising 55% of total exports. The second position in the ranking was held by Switzerland ($X), with an 18% share of total exports. It was followed by Maldives, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Croatia amounted to +58.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+54.9% per year) and Maldives (+805.2% per year).

Export Prices by Country

The average virgin olive oil export price stood at $X per ton in 2022, reducing by -7.1% against the previous year. Over the period under review, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 95% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Croatia ($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 Maldives (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Virgin Olive Oil Imports

Imports into Slovenia

In 2022, purchases abroad of virgin olive oil decreased by -5.7% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, virgin olive oil imports declined to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of virgin olive oil to Slovenia, with a 63% share of total imports. Moreover, virgin olive oil imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was held by Greece (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-1.3% per year) and Greece (+4.3% per year).

In value terms, Italy ($X) constituted the largest supplier of virgin olive oil to Slovenia, comprising 60% of total imports. The second position in the ranking was held by Spain ($X), with a 17% share of total imports. It was followed by Greece, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.6% per year) and Greece (+4.5% per year).

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2022, reducing by -4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Croatia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform