Spain - Refined Olive Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSpain's Refined Olive Oil Price Increases Slightly to $5,134 per Ton
Spain Refined Olive Oil Export Price in January 2023
In January 2023, the refined olive oil price amounted to $5,134 per ton (FOB, Spain), increasing by 3.3% against the previous month. Over the period from January 2022 to January 2023, it increased at an average monthly rate of +2.8%. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 8.4% against the previous month. The export price peaked in January 2023.
Average prices varied noticeably for the major foreign markets. In January 2023, the highest price was recorded for prices to the Netherlands ($5,565 per ton) and Australia ($5,550 per ton), while the average price for exports to the UK ($4,527 per ton) and Germany ($4,584 per ton) were amongst the lowest.
From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spain Refined Olive Oil Exports
In January 2023, overseas shipments of refined olive oil decreased by -6.8% to 17K tons, falling for the fourth month in a row after two months of growth. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2022 with an increase of 33% against the previous month. The exports peaked at 31K tons in May 2022; however, from June 2022 to January 2023, the exports remained at a lower figure.
In value terms, refined olive oil exports declined slightly to $87M (IndexBox estimates) in January 2023. Overall, total exports indicated modest growth from January 2022 to January 2023: its value increased at an average monthly rate of +1.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, exports decreased by -29.5% against October 2022 indices. The growth pace was the most rapid in February 2022 with an increase of 37% m-o-m. Over the period under review, the exports hit record highs at 129K tons in May 2022; however, from June 2022 to January 2023, the exports failed to regain momentum.
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Spain Refined Olive Oil Exports by Country
Portugal (3.7K tons), Italy (2.3K tons) and the United States (2.1K tons) were the main destinations of refined olive oil exports from Spain, together accounting for 48% of total exports. These countries were followed by the UK, France, Australia, the Netherlands, Japan, India, Mexico and Germany, which together accounted for a further 34%.
From January 2022 to January 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +22.4%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for refined olive oil exported from Spain were Portugal ($18M), Italy ($12M) and the United States ($11M), with a combined 48% share of total exports. the UK, France, Australia, the Netherlands, Japan, India, Mexico and Germany lagged somewhat behind, together comprising a further 33%.
France, with a CAGR of +24.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Spain's Refined Olive Oil Prices on the Rise as International Competition Take Their Toll
Spain, the world's largest producer of olive oil, has seen a slight increase in the price of refined olive oil.
The reason behind this price increase is multifaceted. One major factor is that Spain is facing a reduced crop this year due to the exceptionally hot and dry weather conditions over the summer. This has led to a lower supply of olives, which in turn has impacted the price of the finished product.
Additionally, Spain is facing increased competition from both other European countries and international producers, which is driving up the price of olives and olive oil. The Spanish industry is struggling to compete with lower-priced alternatives, such as soybean and sunflower oil, which are flooding the market.
This report provides an in-depth analysis of the refined olive oil market in Spain. 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:
- Spain
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Spain
- 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
- Find deeper insights into current market developments
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
