EU - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
European Virgin Olive Oil Exports Expand with Booming Supplies from Greece and Italy
IndexBox has just published a new report: 'EU - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
European virgin olive oil exports soared by +11% y-o-y to 1.5M tonnes or $5.2B in 2020. Spain remains the key virgin olive oil supplier in the EU, accounting for 56% of the total European exports in physical terms. Greece and Italy have significantly strengthened their positions in terms of exports, ramping up the volume of supplies abroad. Greece emerged as the fastest-growing European exporter in 2020. The average price for virgin olive oil in the EU dropped by -6.3% y-o-y last year to $3,370 per tonne.
Virgin Olive Oil Exports in the EU
Virgin olive oil exports totaled 1.5M tonnes in 2020, growing by +11% on 2019 figures. In value terms, virgin olive oil exports rose by +3.7% y-o-y reached $5.2B (IndexBox estimates) in 2020.
Spain was the main exporter of virgin olive oil in the EU, with the volume of exports reaching 853K tonnes, which was near 56% of total exports in 2020. It was distantly followed by Italy (311K tonnes), Portugal (177K tonnes) and Greece (165K tonnes), together comprising a 43% share of total exports.
Spain experienced a relatively flat trend pattern with regard to the volume of exports. At the same time, Greece (+71.3%), Italy (+22.7%) and Portugal (+11.4%) displayed positive paces of growth. Greece emerged as the fastest-growing European exporter exported in 2020.
In value terms, Spain ($2.5B), Italy ($1.4B) and Portugal ($571M) were the countries with the highest levels of exports in 2020, with a combined 87% share of total exports. Greece lagged somewhat behind, comprising a further 10%.
In 2020, the virgin olive oil export price in the EU amounted to $3,370 per tonne, dropping by -6.3% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Italy ($4,481 per tonne), while Spain ($2,960 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced a decline in the export price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the virgin olive oil market in the EU. 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 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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