Eastern Asia: Olive Oil Market 2024

Olive Oil Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in shipments abroad of olive oil and its fractions, which decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, olive oil exports expanded modestly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the four major exporters of olive oil and its fractions, namely Hong Kong SAR, South Korea, China and Japan, represented more than two-thirds of total export. It was distantly followed by Taiwan (Chinese) (X tons), constituting a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Olive Oil Imports

Imports in Eastern Asia

In 2022, overseas purchases of olive oil and its fractions decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, olive oil imports fell dramatically to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then plummeted in the following year.

Imports by Country

Japan was the main importer of olive oil and its fractions in Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2022. South Korea (X tons) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together held approx. X% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%), South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Japan, South Korea and Taiwan (Chinese) increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported olive oil and its fractions in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price, however, showed a slight increase. The growth pace was the most rapid in 2013 an increase of X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the import price figures.

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Source: IndexBox Platform

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