Tunisia: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Tunisia

The Tunisian refined olive oil market declined to $X in 2022, waning by -3.6% against the previous year. Overall, consumption showed a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 7.6% against the previous year. Refined olive oil consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Refined Olive Oil Production in Tunisia

In value terms, refined olive oil production shrank rapidly to $X in 2022 estimated in export price. Overall, production saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 70% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Refined Olive Oil Exports

Exports from Tunisia

In 2022, overseas shipments of refined olive oil decreased by -23.7% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 81%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, refined olive oil exports reached $X in 2022. Overall, exports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2015 with an increase of 79%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for refined olive oil exports from Tunisia, accounting for a 49% share of total exports. Moreover, refined olive oil exports to the United States exceeded the volume sent to the second major destination, Seychelles (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (-3.1% per year) and Italy (-6.0% per year).

In value terms, the United States ($X) remains the key foreign market for refined olive oil exports from Tunisia, comprising 48% of total exports. The second position in the ranking was held by Seychelles ($X), with a 14% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (+1.9% per year) and Italy (-2.7% per year).

Export Prices by Country

In 2022, the average refined olive oil export price amounted to $X per ton, picking up by 38% against the previous year. Overall, the export price showed a tangible increase. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Spain ($X per ton), while the average price for exports to Italy ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Olive Oil Imports

Imports into Tunisia

In 2022, supplies from abroad of refined olive oil decreased by -20.7% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 when imports increased by 406% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, refined olive oil imports dropped markedly to $X in 2022. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 398%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons) and the United States (X tons) were the main suppliers of refined olive oil imports to Tunisia.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +25.4%).

In value terms, Italy ($X) constituted the largest supplier of refined olive oil to Tunisia, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +14.7%.

Import Prices by Country

In 2022, the average refined olive oil import price amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, saw a pronounced contraction. The growth pace was the most rapid in 2018 an increase of 26%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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 States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform