France: Refined Olive Oil Market Overview 2021

Refined Olive Oil Market Size in France

In 2019, the French refined olive oil market was finally on the rise to reach $X for the first time since 2014, thus ending a four-year declining trend. Over the period under review, the total consumption indicated a modest expansion from 2007 to 2019: its value 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, consumption decreased by -X% against 2014 indices. The pace of growth was the most pronounced in 2010 when the market value increased by X% year-to-year. Refined olive oil consumption peaked at $X in 2014; however, from 2015 to 2019, consumption failed to regain the momentum.

Refined Olive Oil Production in France

In value terms, refined olive oil production rose notably to $X in 2019 estimated in export prices. Overall, the total production indicated measured growth from 2007 to 2019: its value 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. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Refined olive oil production peaked at $X in 2014; however, from 2015 to 2019, production remained at a lower figure.

Refined Olive Oil Exports

Exports from France

In 2019, approx. X tonnes of refined olive oil were exported from France; which is down by -X% against 2018 figures. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2018, and then contracted notably in the following year.

In value terms, refined olive oil exports contracted significantly to $X in 2019. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when exports increased by X% year-to-year. Exports peaked at $X in 2014; however, from 2015 to 2019, exports remained at a lower figure.

Exports by Country

Germany (X tonnes) was the main destination for refined olive oil exports from France, accounting for a X% share of total exports. Moreover, refined olive oil exports to Germany exceeded the volume sent to the second major destination, Belgium (X tonnes), twofold. The third position in this ranking was occupied by Sweden (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Germany stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-X% per year) and Sweden (+X% per year).

In value terms, Germany ($X), Sweden ($X) and Belgium ($X) were the largest markets for refined olive oil exported from France worldwide, with a combined X% share of total exports. These countries were followed by the Netherlands, Croatia, Poland, Australia, Madagascar, Portugal, the United Arab Emirates, Spain, Benin and Cote d'Ivoire, which together accounted for a further X terms of the main countries of destination, Croatia (+X% per year) recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined olive oil export price stood at $X per tonne in 2019, growing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 an increase of X% against the previous year. The export price peaked at $X per tonne in 2014; however, from 2015 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Sweden ($X per tonne), while the average price for exports to Benin ($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 Australia, while the prices for the other major destinations experienced more modest paces of growth.

Refined Olive Oil Imports

Imports into France

In 2019, after five years of growth, there was significant decline in purchases abroad of refined olive oil, when their volume decreased by -X% to X tonnes. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes, and then reduced remarkably in the following year.

In value terms, refined olive oil imports shrank rapidly to $X in 2019. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2019, Spain (X tonnes) constituted the largest refined olive oil supplier to France, with a X% share of total imports. Moreover, refined olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tonnes), more than tenfold. The third position in this ranking was occupied by Portugal (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Spain stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and Portugal (+X% per year).

In value terms, Spain ($X) constituted the largest supplier of refined olive oil to France, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports. It was followed by Portugal, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Spain amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and Portugal (-X% per year).

Import Prices by Country

In 2019, the average refined olive oil import price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per tonne, and then contracted notably in the following year.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Spain, 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 refined olive oil in the world?

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The countries with the highest volumes of refined olive oil consumption in 2019 were China (672K tonnes), the U.S. (356K tonnes) and India (263K tonnes), together accounting for 28% of global consumption. Spain, Japan, Indonesia, Germany, Russia, Brazil, Pakistan, Bangladesh, France and Italy lagged somewhat behind, together comprising a further 28%.

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

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The countries with the highest volumes of refined olive oil production in 2019 were China (664K tonnes), Spain (417K tonnes) and the U.S. (277K tonnes), together accounting for 30% of global production. These countries were followed by India, Japan, Indonesia, Germany, Russia, Pakistan, Brazil, Italy, Bangladesh and France, which together accounted for a further 29%.

What are the leading suppliers of refined olive oil to France?

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In value terms, Spain ($10M) constituted the largest supplier of refined olive oil to France, comprising 88% of total imports. The second position in the ranking was occupied by Italy ($637K), with a 5.6% share of total imports. It was followed by Portugal, with a 3.2% share.

What are the leading importers of refined olive oil from France?

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In value terms, the largest markets for refined olive oil exported from France were Germany ($1.6M), Sweden ($874K) and Belgium ($656K), with a combined 50% share of total exports. The Netherlands, Croatia, Poland, Australia, Madagascar, Portugal, the United Arab Emirates, Spain, Benin and Cote d'Ivoire lagged somewhat behind, together comprising a further 22%.

What is the average export price for refined olive oil in France?

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The average refined olive oil export price stood at $5,029 per tonne in 2019, increasing by 5.4% against the previous year.

What is the average import price for refined olive oil in France?

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The average refined olive oil import price stood at $3,529 per tonne in 2019, shrinking by -19.1% against the previous year.