Report Update Nov 1, 2024

Sri Lanka - Refined Olive Oil - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Sri Lanka

The Sri Lankan refined olive oil market amounted to $X in 2022, rising by 5.4% against the previous year. In general, consumption continues to indicate a perceptible decline. Refined olive oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refined Olive Oil Production in Sri Lanka

In value terms, refined olive oil production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 39% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Refined Olive Oil Exports

Exports from Sri Lanka

In 2022, approx. X kg of refined olive oil were exported from Sri Lanka; dropping by -96.6% on the year before. Overall, exports showed a precipitous decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 1,244%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined olive oil exports declined rapidly to $X in 2022. In general, exports continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 1,021%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X kg) was the main destination for refined olive oil exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan was relatively modest.

In value terms, Japan ($X) emerged as the key foreign market for refined olive oil exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan was relatively modest.

Export Prices by Country

The average refined olive oil export price stood at $X per ton in 2022, shrinking by -76.2% against the previous year. Overall, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2020 an increase of 352%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2022, the rate of growth in terms of prices for Kenya amounted to +469.9% per year.

Refined Olive Oil Imports

Imports into Sri Lanka

In 2022, refined olive oil imports into Sri Lanka fell markedly to X tons, declining by -36.3% compared with the previous year's figure. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2014 when imports increased by 66% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, refined olive oil imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 146% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of refined olive oil to Sri Lanka, accounting for a 78% share of total imports. Moreover, refined olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+24.3% per year) and the United Arab Emirates (+13.6% per year).

In value terms, Spain ($X) constituted the largest supplier of refined olive oil to Sri Lanka, comprising 76% of total imports. The second position in the ranking was held by Italy ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.9% per year) and the United Arab Emirates (+20.7% per year).

Import Prices by Country

In 2022, the average refined olive oil import price amounted to $X per ton, picking up by 7.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 74%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined olive oil in the world?

China remains the largest refined olive oil consuming country worldwide, accounting for 16% of total volume. Moreover, refined olive oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 6.1% share.

What are the largest producers of refined olive oil in the world?

The countries with the highest volumes of in 2021 were China, Spain and India, together comprising 32% of global production. These countries were followed by the United States, Japan, Italy, Russia, Pakistan, Nigeria, Germany, Indonesia, Brazil and Bangladesh, which together accounted for a further 28%.

What are the leading suppliers of refined olive oil to Sri Lanka?

In value terms, Spain constituted the largest supplier of refined olive oil to Sri Lanka, comprising 58% of total imports. The second position in the ranking was occupied by Italy, with a 19% share of total imports. It was followed by Singapore, with a 13% share.

What are the leading importers of refined olive oil from Sri Lanka?

In value terms, Maldives remains the key foreign market for refined olive oil exports from Sri Lanka.

What is the average export price for refined olive oil in Sri Lanka?

In 2021, the average refined olive oil export price amounted to $4,198 per ton, surging by 266% against the previous year.

What is the average import price for refined olive oil in Sri Lanka?

The average refined olive oil import price stood at $4,015 per ton in 2021, rising by 6.9% against the previous year.

This report provides an in-depth analysis of the refined olive oil market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10415310 - Refined olive oil and its fractions (excluding chemically modified)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023