Report Update: Apr 1, 2024

Hungary - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Virgin Olive Oil Price in Hungary - 2021

Virgin Olive Oil Price in Hungary (CIF) - 2021

In November 2021, the average virgin olive oil import price amounted to $4,538 per ton, rising by 7.7% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The pace of growth was the most pronounced in March 2021 when the average import price increased by 12% m-o-m. Over the period under review, average import prices reached the peak figure at $4,556 per ton in May 2021; however, from June 2021 to November 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Portugal ($11,350 per ton), while the price for Greece ($2,960 per ton) was amongst the lowest.

From November 2020 to November 2021, the most notable rate of growth in terms of prices was attained by Portugal (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Virgin Olive Oil Price in Hungary (FOB) - 2022

In 2022, the average virgin olive oil export price amounted to $4,334 per ton, dropping by -2.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 12% against the previous year. The export price peaked at $4,667 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($11,820 per ton), while the average price for exports to Serbia ($3,863 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports in Hungary

In 2022, after three years of growth, there was decline in overseas purchases of virgin olive oil, when their volume decreased by -2.3% to 2.7K tons. The total import volume increased at an average annual rate of +7.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 22%.

In value terms, virgin olive oil imports reduced to $11M in 2022. The total import value increased at an average annual rate of +6.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 21%. As a result, imports reached the peak of $12M, and then dropped in the following year.

Import of Virgin Olive Oil in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	3.6	4.7	5.9	5.2	13.0%
Spain	3.2	2.3	2.7	2.4	-9.1%
Germany	1.1	1.4	0.6	0.9	-6.5%
Austria	0.1	0.1	0.9	0.8	100.0%
Slovakia	0.1	0.5	0.7	0.6	81.7%
Greece	0.2	0.2	0.5	0.4	26.0%
Portugal	0.3	0.3	0.3	0.3	0.0%
Netherlands	0.2	0.3	0.3	0.2	0.0%
Others	0.2	N/A	0.1	0.1	-20.6%
Total	8.9	9.8	11.8	10.8	6.7%

Top Suppliers of Virgin Olive Oil to Hungary in 2022:

Italy (1309.9 tons)
Spain (578.7 tons)
Germany (217.3 tons)
Austria (188.4 tons)
Slovakia (180.6 tons)
Greece (107.7 tons)
Netherlands (57.3 tons)
Portugal (56.8 tons)

Virgin Olive Oil Exports in Hungary

In 2022, after three years of growth, there was significant decline in shipments abroad of virgin olive oil, when their volume decreased by -7.4% to 153 tons. The total export volume increased at an average annual rate of +5.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 17%. As a result, the exports attained the peak of 165 tons, and then fell in the following year.

In value terms, virgin olive oil exports declined to $662K in 2022. The total export value increased at an average annual rate of +6.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, the exports reached the peak of $732K, and then fell in the following year.

Export of Virgin Olive Oil in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	168	178	174	159	-1.8%
Czech Republic	108	105	117	107	-0.3%
Slovakia	47.4	82.2	95.7	87.5	22.7%
Croatia	53.5	43.2	70.0	64.0	6.2%
Romania	40.3	57.4	60.1	54.9	10.9%
Bosnia and Herzegovina	32.4	33.8	56.8	51.9	17.0%
Austria	67.6	49.7	52.5	50.6	-9.2%
Serbia	15.6	18.6	34.8	31.8	26.8%
Germany	7.3	7.6	33.8	30.9	61.8%
Others	9.7	16.6	37.9	24.8	36.7%
Total	549	592	732	662	6.4%

Top Export Markets for Virgin Olive Oil from Hungary in 2022:

Italy (37.6 tons)
Czech Republic (25.7 tons)
Slovakia (21.5 tons)
Croatia (15.7 tons)
Bosnia and Herzegovina (12.3 tons)
Romania (11.8 tons)
Austria (11.7 tons)
Serbia (8.2 tons)
Germany (2.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the virgin olive oil market in Hungary. 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:

FCL 261 - Oil of Olives, Virgin

Country coverage:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023