Ukraine: Olive Oil Market 2025

Olive Oil Market Size in Ukraine

After six years of growth, the Ukrainian olive oil market decreased by -51.4% to $X in 2022. Overall, consumption saw a slight slump. Olive oil consumption peaked at $X in 2021, and then dropped markedly in the following year.

Olive Oil Exports

Exports from Ukraine

Olive oil exports from Ukraine expanded significantly to X tons in 2022, surging by 5.8% compared with the previous year. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 1,086%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, olive oil exports expanded modestly to $X in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 346% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X tons) and the United Arab Emirates (X tons) were the main destinations of olive oil exports from Ukraine.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +105.9%).

In value terms, the largest markets for olive oil exported from Ukraine were Russia ($X) and the United Arab Emirates ($X).

Russia, with a CAGR of +85.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average olive oil export price amounted to $X per ton, shrinking by -1.6% against the previous year. Over the period under review, the export price recorded a deep reduction. The growth pace was the most rapid in 2017 when the average export price increased by 214%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+53.9%), while the prices for the other major destinations experienced a decline.

Olive Oil Imports

Imports into Ukraine

In 2022, purchases abroad of olive oil and its fractions decreased by -55.9% to X tons, falling for the second year in a row after three years of growth. In general, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 61% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, olive oil imports contracted notably to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined remarkably 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 Ukraine, together accounting for 91% of total imports. Poland, Estonia and Turkey lagged somewhat behind, together comprising a further 7.9%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +52.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest olive oil suppliers to Ukraine were Italy ($X), Spain ($X) and Greece ($X), with a combined 92% share of total imports. Poland, Estonia and Turkey lagged somewhat behind, together accounting for a further 6.2%.

In terms of the main suppliers, Poland, with a CAGR of +52.2%, saw the highest rates of growth with regard to 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, increasing by 14% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive oil import price increased by +32.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while the price for Estonia ($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 (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform