Ukraine: Virgin Olive Oil Market 2025

Virgin Olive Oil Market Size in Ukraine

In 2022, the Ukrainian virgin olive oil market decreased by -51.4% to $X for the first time since 2015, thus ending a six-year rising trend. Over the period under review, consumption recorded a mild curtailment. Over the period under review, the market reached the peak level at $X in 2021, and then declined remarkably in the following year.

Virgin Olive Oil Exports

Exports from Ukraine

In 2022, approx. X tons of virgin olive oil were exported from Ukraine; growing by 5.8% against 2021. Overall, exports showed significant growth. The growth pace was the most rapid in 2019 with an increase of 1,086%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, virgin olive oil exports amounted to $X in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 346%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

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

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +105.9%).

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

Among the main countries of destination, Russia, with a CAGR of +85.4%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average virgin olive oil export price stood at $X per ton in 2022, which is down by -1.6% against the previous year. In general, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 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 lower figure.

Average prices varied noticeably for the major overseas 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.

Virgin Olive Oil Imports

Imports into Ukraine

In 2022, purchases abroad of virgin olive oil decreased by -55.9% to X tons, falling for the second consecutive year after three years of growth. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 61%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, virgin olive oil imports dropped markedly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 47%. Imports peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

Italy (X tons), Spain (X tons) and Greece (X tons) were the main suppliers of virgin olive oil imports to Ukraine, with a combined 91% share of total imports. Poland, Estonia and Turkey lagged somewhat behind, together accounting for 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, Italy ($X), Spain ($X) and Greece ($X) were the largest virgin olive oil suppliers to Ukraine, together comprising 92% of total imports. Poland, Estonia and Turkey lagged somewhat behind, together accounting for a further 6.2%.

Poland, with a CAGR of +52.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, import price indicated a strong expansion 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, virgin olive oil import price increased by +32.0% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 18% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

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