Spain’s Virgin Olive Oil Exports Surged 42% in 2014

Vegetable And Animal Oils And Fats October 04, 2015
Author: Olga Minchina
Account Manager

Spain continued its dominance in the global olive oil trade. In 2014, Spain exported 900 thousand tonnes of olive oil totaling 2,891 million USD, 42% over the previous year. Its primary trading partner was Italy, where it supplied 47% of its total olive oil exports in value terms, accounting for 75% of Italy's total imports.

From 2007 to 2014, Spain was a net exporter of olive oil. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was less pronounced.

Italy and Portugal were among the other main global suppliers of olive oil in 2014. However, the fastest growing exporters from 2007 to 2014 were Chile (+44% per year) and Portugal (+26% per year). Portugal significantly strengthened its position in the global export structure.

In 2014, Spain's top 5 trading partners were Italy, France, the U.S., Portugal and the United Kingdom, with a combined 76% share of Spain's olive oil exports. The share of the U.S. increased (+3 percentage points), while the share of France illustrated negative dynamics (-6 percentage points).

Source: World: Olive Oil (Virgin) - Market Report. Analysis And Forecast To 2020