United Arab Emirates: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in the United Arab Emirates

The virgin olive oil market in the United Arab Emirates declined remarkably to $X in 2019, which is down by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2019, consumption remained at a lower figure.

Virgin Olive Oil Exports

Exports from the United Arab Emirates

In 2019, the amount of olive oil (virgin) exported from the United Arab Emirates surged to X tonnes, growing by X% against the previous year's figure. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2016 when exports increased by X% y-o-y. Exports peaked in 2019 and are likely to continue growth in the near future.

In value terms, virgin olive oil exports stood at $X in 2019. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Exports peaked in 2019 and are likely to see gradual growth in years to come.

Exports by Country

Saudi Arabia (X tonnes) was the main destination for virgin olive oil exports from the United Arab Emirates, accounting for a X% share of total exports. Moreover, virgin olive oil exports to Saudi Arabia exceeded the volume sent to the second major destination, the Philippines (X tonnes), more than tenfold. Rwanda (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Saudi Arabia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Rwanda (+X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for virgin olive oil exports from the United Arab Emirates, comprising X% of total exports. The second position in the ranking was occupied by the Philippines ($X), with a X% share of total exports. It was followed by Rwanda, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Saudi Arabia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Rwanda (+X% per year).

Export Prices by Country

In 2019, the average virgin olive oil export price amounted to $X per tonne, with a decrease of -X% against the previous year. Over the period under review, export price indicated a measured expansion from 2007 to 2019: its price 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 growth pace was the most rapid in 2013 an increase of X% y-o-y. The export price peaked at $X per tonne in 2018, and then reduced sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was the Philippines ($X per tonne), while the average price for exports to Sweden ($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 Saudi Arabia, while the prices for the other major destinations experienced a decline.

Virgin Olive Oil Imports

Imports into the United Arab Emirates

Virgin olive oil imports into the United Arab Emirates declined to X tonnes in 2019, shrinking by -X% against the previous year's figure. Over the period under review, imports recorded a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2014; however, from 2015 to 2019, imports remained at a lower figure.

In value terms, virgin olive oil imports shrank dramatically to $X in 2019. Overall, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2019, imports remained at a lower figure.

Imports by Country

Spain (X tonnes), Tunisia (X tonnes) and Turkey (X tonnes) were the main suppliers of virgin olive oil imports to the United Arab Emirates, together comprising X% of total imports. Italy and Greece lagged somewhat behind, together comprising a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest virgin olive oil suppliers to the United Arab Emirates were Tunisia ($X), Spain ($X) and Turkey ($X), with a combined X% share of total imports. These countries were followed by Italy and Greece, which together accounted for a further X recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average virgin olive oil import price amounted to $X per tonne, shrinking by -X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% year-to-year. Over the period under review, average import prices reached the maximum at $X per tonne in 2017; however, from 2018 to 2019, import prices remained at a lower figure.

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

From 2007 to 2019, 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 AI Platform

Frequently Asked Questions (FAQ) :

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

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The countries with the highest volumes of virgin olive oil consumption in 2019 were Spain (969K tonnes), Italy (755K tonnes) and Greece (340K tonnes), with a combined 55% share of global consumption. The U.S., Morocco, France, Tunisia, Algeria, Brazil, Portugal, Syrian Arab Republic and Germany lagged somewhat behind, together comprising a further 28%.

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

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Spain (1.7M tonnes) constituted the country with the largest volume of virgin olive oil production, accounting for 45% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Italy (477K tonnes), fourfold. The third position in this ranking was occupied by Greece (434K tonnes), with a 12% share.

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

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In value terms, Tunisia ($5.3M), Spain ($5.1M) and Turkey ($3.3M) appeared to be the largest virgin olive oil suppliers to the United Arab Emirates, together comprising 69% of total imports. Italy and Greece lagged somewhat behind, together accounting for a further 25%.

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

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In value terms, Saudi Arabia ($3.8M) remains the key foreign market for virgin olive oil exports from the United Arab Emirates, comprising 88% of total exports. The second position in the ranking was occupied by the Philippines ($172K), with a 4% share of total exports. It was followed by Rwanda, with a 1.6% share.

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

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In 2019, the average virgin olive oil export price amounted to $2,714 per tonne, with a decrease of -15.1% against the previous year.

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

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In 2019, the average virgin olive oil import price amounted to $4,136 per tonne, falling by -21.7% against the previous year.