Italy - Refined Olive Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Olive Oil Price in Italy - 2023
Contents:
- Refined Olive Oil Price in Italy (FOB) - 2023
- Refined Olive Oil Price in Italy (CIF) - 2023
- Refined Olive Oil Exports in Italy
- Refined Olive Oil Imports in Italy
Refined Olive Oil Price in Italy (FOB) - 2023
The average refined olive oil export price stood at $7,489 per ton in August 2023, picking up by 1.5% against the previous month. In general, export price indicated a notable expansion from August 2022 to August 2023: its price increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, refined olive oil export price increased by +8.1% against April 2023 indices. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 18% against the previous month. Over the period under review, the average export prices hit record highs in August 2023.
There were significant differences in the average prices for the major export markets. In August 2023, the country with the highest price was Canada ($9,742 per ton), while the average price for exports to Spain ($3,696 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.
Refined Olive Oil Price in Italy (CIF) - 2023
In August 2023, the average refined olive oil import price amounted to $6,589 per ton, surging by 14% against the previous month. Over the period under review, import price indicated a strong expansion from August 2022 to August 2023: its price increased at an average monthly rate of +5.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, refined olive oil import price increased by +41.0% against March 2023 indices. The most prominent rate of growth was recorded in November 2022 an increase of 18% m-o-m. The import price peaked in August 2023.
Average prices varied somewhat amongst the major supplying countries. In August 2023, the countries with the highest prices were Spain ($7,094 per ton) and Portugal ($7,019 per ton), while the price for Greece ($4,975 per ton) and Tunisia ($5,769 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Spain (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Refined Olive Oil Exports in Italy
In 2022, refined olive oil exports from Italy skyrocketed to 60K tons, with an increase of 19% compared with the previous year's figure. The total export volume increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. As a result, the exports attained the peak of 62K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, refined olive oil exports skyrocketed to $275M in 2022. The total export value increased at an average annual rate of +12.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Refined Olive Oil in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 62.9 | 84.9 | 75.5 | 92.7 | 13.8% |
| Germany | 14.2 | 13.4 | 6.6 | 19.9 | 11.9% |
| Taiwan (Chinese) | 10.7 | 11.4 | 16.3 | 19.5 | 22.1% |
| United Kingdom | 11.4 | 15.1 | 14.9 | 18.4 | 17.3% |
| Japan | 16.7 | 10.8 | 10.2 | 17.0 | 0.6% |
| Canada | 9.3 | 7.2 | 5.8 | 8.8 | -1.8% |
| Spain | 1.6 | 5.8 | 4.4 | 7.9 | 70.3% |
| Saudi Arabia | 6.6 | 3.3 | 4.1 | 7.8 | 5.7% |
| Netherlands | 4.3 | 4.5 | 6.1 | 6.6 | 15.4% |
| Hong Kong SAR | 2.8 | 4.1 | 4.7 | 6.0 | 28.9% |
| Russia | 4.8 | 5.4 | 6.1 | 5.9 | 7.1% |
| South Korea | 2.0 | 2.3 | 3.0 | 4.2 | 28.1% |
| Others | 44.8 | 43.6 | 52.3 | 60.2 | 10.4% |
| Total | 192 | 212 | 210 | 275 | 12.7% |
Top Export Markets for Refined Olive Oil from Italy in 2022:
- United States (19.4K tons)
- Germany (6.3K tons)
- Taiwan (Chinese) (3.9K tons)
- Japan (3.8K tons)
- United Kingdom (3.7K tons)
- Spain (2.6K tons)
- Canada (1.7K tons)
- Saudi Arabia (1.4K tons)
- Russia (1.4K tons)
- Netherlands (1.3K tons)
- Hong Kong SAR (1.1K tons)
- South Korea (0.9K tons)
Refined Olive Oil Imports in Italy
In 2022, the amount of refined olive oil imported into Italy skyrocketed to 52K tons, surging by 29% compared with 2021. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, refined olive oil imports surged to $181M in 2022. In general, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Refined Olive Oil in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 68.4 | 76.6 | 96.3 | 151 | 30.2% |
| Greece | 1.9 | 1.2 | 1.6 | 13.0 | 89.8% |
| Portugal | 0.6 | N/A | 0.9 | 7.1 | 127.9% |
| Tunisia | N/A | 4.1 | 6.6 | 3.3 | -10.3% |
| Turkey | 5.4 | 4.6 | 0.1 | 1.8 | -30.7% |
| Others | 6.3 | 3.7 | 2.5 | 4.8 | -8.7% |
| Total | 82.5 | 90.2 | 108 | 181 | 29.9% |
Top Suppliers of Refined Olive Oil to Italy in 2022:
- Spain (43.2K tons)
- Greece (4.1K tons)
- Portugal (1.9K tons)
- Tunisia (1.1K tons)
- Turkey (0.4K tons)
This report provides an in-depth analysis of the refined olive oil market in Italy. 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:
- Italy
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Italy
- 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
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In September 2023, refined olive oil exports experienced a significant 25% month-on-month growth rate. By November 2023, the value of these exports had reached $35M.
