Eastern Asia: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Eastern Asia

In 2022, the East Asian refined olive oil market increased by X% to $X, rising for the second consecutive year after six years of decline. Over the period under review, consumption recorded a mild slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Refined Olive Oil Production in Eastern Asia

In value terms, refined olive oil production dropped modestly to $X in 2022 estimated in export price. In general, production saw a mild slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Refined Olive Oil Exports

Exports in Eastern Asia

In 2022, shipments abroad of refined olive oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a deep setback. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refined olive oil exports soared to $X in 2022. Overall, exports, however, saw a deep contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) and South Korea (X tons) represented roughly X% of total exports in 2022. Japan (X tons) took the next position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest refined olive oil supplying countries in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and South Korea ($X), with a combined X% share of total exports.

Japan, with a CAGR of X%, recorded 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

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined olive oil export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while South Korea ($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 mixed trends in the export price figures.

Refined Olive Oil Imports

Imports in Eastern Asia

In 2022, the amount of refined olive oil imported in Eastern Asia rose notably to X tons, surging by X% on the previous year. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, refined olive oil imports skyrocketed to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Japan (X tons) and China (X tons) represented the largest importers of refined olive oil in 2022, reaching near X% and X% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Hong Kong SAR (X tons), together making up a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. 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) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform