Eastern Europe: Virgin Olive Oil Market 2024

Virgin Olive Oil Exports

Exports in Eastern Europe

In 2022, after two years of growth, there was decline in overseas shipments of virgin olive oil, when their volume decreased by X% to X tons. Total exports indicated a resilient expansion 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. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, virgin olive oil exports reduced to $X in 2022. Total exports indicated a buoyant 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Lithuania (X tons) and Poland (X tons) represented roughly X% of total exports in 2022. It was distantly followed by the Czech Republic (X tons), Latvia (X tons), Slovakia (X tons) and Bulgaria (X tons), together making up a X% share of total exports. Belarus (X tons) took a little 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 Belarus (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil supplying countries in Eastern Europe were Lithuania ($X), Poland ($X) and the Czech Republic ($X), together comprising X% of total exports. Latvia, Slovakia, Bulgaria and Belarus lagged somewhat behind, together comprising a further X%.

Belarus, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a mild decline. The growth pace was the most rapid in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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 the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Virgin Olive Oil Imports

Imports in Eastern Europe

After two years of growth, supplies from abroad of virgin olive oil decreased by X% to X tons in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, virgin olive oil imports contracted notably to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

Poland was the largest importing country with an import of about X tons, which accounted for X% of total imports. The Czech Republic (X tons) held the second position in the ranking, followed by Bulgaria (X tons), Romania (X tons), Hungary (X tons), Lithuania (X tons) and Slovakia (X tons). All these countries together took near X% share of total imports.

Imports into Poland increased at an average annual rate of X% from 2012 to 2022. At the same time, Bulgaria (X%), Lithuania (X%), Romania (X%), Hungary (X%), the Czech Republic (X%) and Slovakia (X%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Poland, Bulgaria, Romania, the Czech Republic, Hungary and Lithuania increased by X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported virgin olive oil in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

In Poland, virgin olive oil imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Romania (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Lithuania ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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