Middle East: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in the Middle East

The Middle Eastern virgin olive oil market declined modestly to $X in 2022, approximately mirroring the previous year. In general, consumption, however, continues to indicate a mild downturn. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Virgin Olive Oil Production in the Middle East

In value terms, virgin olive oil production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced slump. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Virgin Olive Oil Exports

Exports in the Middle East

Virgin olive oil exports rose to X tons in 2022, growing by X% against 2021 figures. Overall, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, virgin olive oil exports fell to $X in 2022. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Syrian Arab Republic (X tons) was the main exporter of virgin olive oil, committing X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Palestine (X%). The following exporters - the United Arab Emirates (X tons) and Lebanon (X tons) - each reached a X% share of total exports.

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

In value terms, the largest virgin olive oil supplying countries in the Middle East were Syrian Arab Republic ($X), Turkey ($X) and Palestine ($X), together accounting for X% of total exports. Lebanon and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to 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 export price in the Middle East stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price saw a pronounced shrinkage. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood 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 Palestine ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Virgin Olive Oil Imports

Imports in the Middle East

In 2022, approx. X tons of virgin olive oil were imported in the Middle East; rising by X% against 2021. In general, imports enjoyed strong growth. The growth pace was the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, virgin olive oil imports reduced modestly to $X in 2022. Overall, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons) and Turkey (X tons) represented roughly X% of total imports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Israel (X%). The following importers - Kuwait (X tons) and Iran (X tons) - each resulted at a X% share of total imports.

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

In value terms, the largest virgin olive oil importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and Israel ($X), together comprising X% of total imports.

Among the main importing countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price recorded a slight descent. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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