Norway - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVirgin Olive Oil Price in Norway - 2021
Contents:
- Virgin Olive Oil Price in Norway (CIF) - 2021
- Virgin Olive Oil Price in Norway (FOB) - 2022
- Virgin Olive Oil Imports in Norway
- Virgin Olive Oil Exports in Norway
Virgin Olive Oil Price in Norway (CIF) - 2021
The average virgin olive oil import price stood at $8,228 per ton in December 2021, growing by 9.3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in September 2021 an increase of 11% m-o-m. The import price peaked in December 2021.
There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Italy ($8,685 per ton), while the price for Turkey ($3,934 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Virgin Olive Oil Price in Norway (FOB) - 2022
In 2022, the average virgin olive oil export price amounted to $8,651 per ton, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2017 an increase of 9.6% against the previous year. The export price peaked at $8,674 per ton in 2021, and then declined in the following year.
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 Sweden ($18,209 per ton), while the average price for exports to Italy ($2,361 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 Sweden (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.
Virgin Olive Oil Imports in Norway
In 2022, supplies from abroad of virgin olive oil decreased by -2.1% to 2.2K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +10.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 31%.
In value terms, virgin olive oil imports reduced to $15M in 2022. The total import value increased at an average annual rate of +10.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 28% against the previous year.
| Import of Virgin Olive Oil in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 2.4 | 3.4 | 3.6 | 3.4 | 12.3% |
| Spain | 1.3 | 1.5 | 2.2 | 2.0 | 15.4% |
| Greece | 1.3 | 1.1 | 1.5 | 1.4 | 2.5% |
| Turkey | 0.2 | 0.2 | 0.2 | 0.2 | 0.0% |
| Iceland | N/A | N/A | N/A | 0.1 | 0% |
| Others | 5.7 | 7.6 | 8.1 | 7.6 | 10.1% |
| Total | 10.9 | 13.9 | 15.6 | 14.8 | 10.7% |
Top Suppliers of Virgin Olive Oil to Norway in 2022:
- Italy (442.0 tons)
- Spain (370.3 tons)
- Greece (204.0 tons)
- Turkey (35.6 tons)
- Iceland (21.1 tons)
Virgin Olive Oil Exports in Norway
In 2022, shipments abroad of virgin olive oil decreased by -28.5% to 3.7 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 115% against the previous year. As a result, the exports attained the peak of 5.1 tons, and then declined remarkably in the following year.
In value terms, virgin olive oil exports dropped rapidly to $32K in 2022. Overall, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 135%. As a result, the exports attained the peak of $45K, and then fell markedly in the following year.
| Export of Virgin Olive Oil in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 2.4 | 4.6 | 19.2 | 16.2 | 89.0% |
| Portugal | 4.4 | 5.2 | 6.1 | 5.2 | 5.7% |
| Italy | 1.2 | 2.7 | 4.0 | 3.4 | 41.5% |
| Iceland | N/A | 0.2 | 0.3 | 0.2 | 0.0% |
| Finland | 0.1 | 0.1 | 0.3 | 0.2 | 26.0% |
| Eritrea | N/A | N/A | 0.4 | N/A | 0% |
| Others | 6.1 | 6.2 | 14.2 | 6.6 | 2.7% |
| Total | 14.3 | 19.0 | 44.5 | 31.8 | 30.5% |
Top Export Markets for Virgin Olive Oil from Norway in 2022:
- Italy (1424.0 kg)
- Sweden (887.0 kg)
- Portugal (630.0 kg)
- Iceland (83.0 kg)
- Finland (57.0 kg)
This report provides an in-depth analysis of the virgin olive oil market in Norway. 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:
- Norway
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Norway
- 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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This report provides an in-depth analysis of the virgin olive oil market in Norway.
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The global virgin olive oil market revenue amounted to $15.2B in 2018, picking up by 1.7% against the previous year. This ...
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