United Arab Emirates: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in the United Arab Emirates

After two years of growth, the virgin olive oil market in the United Arab Emirates decreased by -X% to $X in 2020. Over the period under review, consumption showed a deep reduction. The pace of growth appeared the most rapid in 2012 when the market value increased by X% y-o-y. Over the period under review, the market attained the maximum level at $X in 2019, and then fell notably in the following year.

Virgin Olive Oil Exports

Exports from the United Arab Emirates

In 2020, the amount of virgin olive oil exported from the United Arab Emirates expanded rapidly to X tonnes, picking up by X% against the year before. Over the period under review, exports saw a prominent expansion. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Exports peaked in 2020 and are expected to retain growth in the near future.

In value terms, virgin olive oil exports skyrocketed to $X in 2020. Overall, exports showed prominent growth. The growth pace was the most rapid in 2010 when exports increased by X% year-to-year. Over the period under review, exports hit record highs in 2020 and are likely to continue growth in the near future.

Exports by Country

Uganda (X tonnes), the U.S. (X tonnes) and the Netherlands (X tonnes) were the main destinations of virgin olive oil exports from the United Arab Emirates, together accounting for X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for virgin olive oil exported from the United Arab Emirates were the Netherlands ($X), Uganda ($X) and the U.S. ($X), together accounting for X% of total exports.

In terms of the main countries of destination, the Netherlands (+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

In 2020, the average virgin olive oil export price amounted to $X per tonne, growing by X% against the previous year. In general, export price indicated a tangible increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, virgin olive oil export price increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2013 an increase of X% y-o-y. The export price peaked in 2020 and is likely to see steady growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Italy ($X per tonne), while the average price for exports to Gambia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo, while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into the United Arab Emirates

In 2020, after two years of growth, there was significant decline in supplies from abroad of virgin olive oil, when their volume decreased by -X% to X tonnes. Overall, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2012 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2019, and then declined sharply in the following year.

In value terms, virgin olive oil imports dropped notably to $X in 2020. In general, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019, and then fell dramatically in the following year.

Imports by Country

In 2020, Spain (X tonnes) constituted the largest supplier of virgin olive oil to the United Arab Emirates, accounting for a X% share of total imports. Moreover, virgin olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tonnes), sevenfold.

From 2007 to 2020, the average annual growth rate of volume from Spain totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Greece (+X% per year).

In value terms, Spain ($X) constituted the largest supplier of virgin olive oil to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Spain totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Greece (+X% per year).

Import Prices by Country

In 2020, the average virgin olive oil import price amounted to $X per tonne, falling by -X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2017; however, from 2018 to 2020, import prices stood at a somewhat lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?

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Spain (1.3M tonnes) remains the largest virgin olive oil consuming country worldwide, comprising approx. 33% of total volume. Moreover, virgin olive oil consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (498K tonnes), threefold. The U.S. (313K tonnes) ranked third in terms of total consumption with a 7.9% share.

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

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Spain (1.9M tonnes) constituted the country with the largest volume of virgin olive oil production, comprising approx. 49% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia (462K tonnes), fourfold. Greece (329K tonnes) ranked third in terms of total production with a 8.3% share.

What are the leading suppliers of virgin olive oil to the United Arab Emirates?

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In value terms, Spain ($12M) constituted the largest supplier of virgin olive oil to the United Arab Emirates, comprising 73% of total imports. The second position in the ranking was occupied by Italy ($2.7M), with a 16% share of total imports.

What are the leading importers of virgin olive oil from the United Arab Emirates?

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In value terms, the largest markets for virgin olive oil exported from the United Arab Emirates were the Netherlands ($1.1M), Uganda ($1.1M) and the U.S. ($743K), together accounting for 71% of total exports.

What is the average export price for virgin olive oil in the United Arab Emirates?

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The average virgin olive oil export price stood at $3,149 per tonne in 2020, with an increase of 3.6% against the previous year.

What is the average import price for virgin olive oil in the United Arab Emirates?

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In 2020, the average virgin olive oil import price amounted to $3,895 per tonne, falling by -5.2% against the previous year.