Austria: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in Austria

The Austrian virgin olive oil market soared to $X in 2020, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Virgin Olive Oil Exports

Exports from Austria

In 2020, approx. X tonnes of virgin olive oil were exported from Austria; falling by -X% compared with the previous year. Overall, exports saw a slight shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of X% year-to-year. As a result, exports attained the peak of X tonnes, and then dropped rapidly in the following year.

In value terms, virgin olive oil exports reduced markedly to $X in 2020. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X% year-to-year. As a result, exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Switzerland (X tonnes), Germany (X tonnes) and Slovenia (X tonnes) were the main destinations of virgin olive oil exports from Austria, with a combined X% share of total exports. These countries were followed by France, Hungary and Italy, which together accounted for a further X 2007 to 2020, the biggest increases were in France, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Germany ($X) and Slovenia ($X) appeared to be the largest markets for virgin olive oil exported from Austria worldwide, together comprising X% of total exports. France, Hungary and Italy lagged somewhat behind, together accounting for a further X saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average virgin olive oil export price amounted to $X per tonne, which is down by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

Average prices varied somewhat for the major export markets. In 2020, the highest prices were recorded for prices to Slovenia ($X per tonne) and Switzerland ($X per tonne), while the average price for exports to Germany ($X per tonne) and France ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hungary, while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Austria

Virgin olive oil imports into Austria soared to X tonnes in 2020, picking up by X% compared with the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes. From 2009 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, virgin olive oil imports skyrocketed to $X in 2020. The total import value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum in 2020 and are likely to see gradual growth in years to come.

Imports by Country

Italy (X tonnes), Greece (X tonnes) and Spain (X tonnes) were the main suppliers of virgin olive oil imports to Austria, with a combined X% share of total imports.

From 2007 to 2020, the biggest increases were in Spain, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Greece ($X) and Spain ($X) constituted the largest virgin olive oil suppliers to Austria, with a combined X% share of total imports.

Spain recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average virgin olive oil import price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2017; however, from 2018 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Greece ($X per tonne), while the price for Spain ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Greece, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?

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Spain (1.3M tonnes) remains the largest virgin olive oil consuming country worldwide, accounting for 33% of total volume. Moreover, virgin olive oil consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (498K tonnes), threefold. The U.S. (313K tonnes) ranked third in terms of total consumption with a 7.9% share.

What are the largest producers of virgin olive oil in the world?

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Spain (1.9M tonnes) remains the largest virgin olive oil producing country worldwide, accounting for 49% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia (462K tonnes), fourfold. Greece (329K tonnes) ranked third in terms of total production with a 8.3% share.

What are the leading suppliers of virgin olive oil to Austria?

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In value terms, the largest virgin olive oil suppliers to Austria were Italy ($20M), Greece ($16M) and Spain ($7.1M), together comprising 95% of total imports.

What are the leading importers of virgin olive oil from Austria?

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In value terms, Switzerland ($1.5M), Germany ($1,000K) and Slovenia ($565K) appeared to be the largest markets for virgin olive oil exported from Austria worldwide, with a combined 84% share of total exports. France, Hungary and Italy lagged somewhat behind, together accounting for a further 14%.

What is the average export price for virgin olive oil in Austria?

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The average virgin olive oil export price stood at $5,558 per tonne in 2020, waning by -12.7% against the previous year.

What is the average import price for virgin olive oil in Austria?

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The average virgin olive oil import price stood at $4,824 per tonne in 2020, dropping by -1.8% against the previous year.