Netherlands: Virgin Olive Oil Market 2023

Virgin Olive Oil Market Size in the Netherlands

After two years of decline, the Dutch virgin olive oil market increased by 35% to $X in 2021. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Virgin Olive Oil Exports

Exports from the Netherlands

After two years of growth, overseas shipments of virgin olive oil decreased by -25.5% to X tons in 2021. In general, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 99%. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, virgin olive oil exports dropped rapidly to $X in 2021. Over the period under review, exports, however, recorded resilient growth. The growth pace was the most rapid in 2020 when exports increased by 180%. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

The UK (X tons), France (X tons) and Germany (X tons) were the main destinations of virgin olive oil exports from the Netherlands, with a combined 67% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +64.1%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for virgin olive oil exports from the Netherlands, comprising 36% of total exports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total exports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+8.0% per year) and France (+63.3% per year).

Export Prices by Country

In 2021, the average virgin olive oil export price amounted to $X per ton, surging by 1.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 an increase of 40%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Hungary ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into the Netherlands

In 2021, imports of virgin olive oil into the Netherlands soared to X tons, jumping by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 22%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, virgin olive oil imports soared to $X in 2021. The total import value increased at an average annual rate of +6.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest virgin olive oil supplier to the Netherlands, with a 56% share of total imports. Moreover, virgin olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.0% per year) and Germany (-4.0% per year).

In value terms, Spain ($X), Italy ($X) and Germany ($X) were the largest virgin olive oil suppliers to the Netherlands, with a combined 85% share of total imports. Greece, Morocco and Belgium lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, Greece, with a CAGR of +46.6%, recorded 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

The average virgin olive oil import price stood at $X per ton in 2021, rising by 4.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2013 when the average import price increased by 18%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per ton) and Germany ($X per ton), while the price for Spain ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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