Croatia: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in Croatia

After two years of decline, the Croatian virgin olive oil market increased by X% to $X in 2019. In general, consumption posted a tangible expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Virgin olive oil consumption peaked at $X in 2016; however, from 2017 to 2019, consumption remained at a lower figure.

Virgin Olive Oil Production in Croatia

In value terms, virgin olive oil production skyrocketed to $X in 2019 estimated in export prices. In general, production, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% year-to-year. Virgin olive oil production peaked at $X in 2010; however, from 2011 to 2019, production remained at a lower figure.

Virgin Olive Oil Exports

Exports from Croatia

In 2019, exports of olive oil (virgin) from Croatia reduced markedly to X tonnes, waning by -X% on the previous year. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Exports peaked at X tonnes in 2016; however, from 2017 to 2019, exports failed to regain the momentum.

In value terms, virgin olive oil exports fell sharply to $X in 2019. Over the period under review, exports recorded a slight increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, exports attained the peak of $X. From 2017 to 2019, the growth exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tonnes) was the main destination for virgin olive oil exports from Croatia, with a X% share of total exports. Moreover, virgin olive oil exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Slovenia (X tonnes), twofold. Germany (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Bosnia and Herzegovina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (-X% per year) and Germany (+X% per year).

In value terms, the largest markets for virgin olive oil exported from Croatia were Bosnia and Herzegovina ($X), Slovenia ($X) and Germany ($X), together accounting for X% of total exports. These countries were followed by Italy, the U.S., Switzerland and Austria, which together accounted for a further X (+X% per year) saw the highest rates of growth with regard to the value of exports, in terms of 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 2019, the average virgin olive oil export price amounted to $X per tonne, shrinking by -X% against the previous year. Over the period under review, export price indicated a slight expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, virgin olive oil export price increased by +X% against 2015 indices. The growth pace was the most rapid in 2013 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per tonne. From 2014 to 2019, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Germany ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Austria, while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Croatia

In 2019, approx. X tonnes of olive oil (virgin) were imported into Croatia; surging by X% against the previous year. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure in 2019 and are likely to continue growth in the immediate term.

In value terms, virgin olive oil imports contracted to $X in 2019. In general, imports enjoyed resilient growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

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

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain, while imports for the other leaders experienced mixed trend patterns.

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

In terms of the main suppliers, Spain recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2019, the average virgin olive oil import price amounted to $X per tonne, declining by -X% against the previous year. In general, the import price continues to indicate 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 2019, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, 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 2019, the most notable rate of growth in terms of prices was attained by Greece, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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The countries with the highest volumes of virgin olive oil consumption in 2019 were Spain (969K tonnes), Italy (755K tonnes) and Greece (340K tonnes), together accounting for 55% of global consumption. The U.S., Morocco, France, Tunisia, Algeria, Brazil, Portugal, Syrian Arab Republic and Germany lagged somewhat behind, together comprising a further 28%.

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

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Spain (1.7M tonnes) constituted the country with the largest volume of virgin olive oil production, comprising approx. 45% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Italy (477K tonnes), fourfold. Greece (434K tonnes) ranked third in terms of total production with a 12% share.

What are the leading suppliers of olive oil (virgin) to Croatia?

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In value terms, the largest virgin olive oil suppliers to Croatia were Italy ($7.3M), Spain ($6.5M) and Greece ($594K), with a combined 97% share of total imports.

What are the leading importers of olive oil (virgin) from Croatia?

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In value terms, Bosnia and Herzegovina ($494K), Slovenia ($358K) and Germany ($151K) appeared to be the largest markets for virgin olive oil exported from Croatia worldwide, with a combined 68% share of total exports. These countries were followed by Italy, the U.S., Switzerland and Austria, which together accounted for a further 20%.

What is the average export price for olive oil (virgin) in Croatia?

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In 2019, the average virgin olive oil export price amounted to $7,598 per tonne, reducing by -8.5% against the previous year.

What is the average import price for olive oil (virgin) in Croatia?

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The average virgin olive oil import price stood at $3,655 per tonne in 2019, reducing by -17.6% against the previous year.