Africa: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Africa

In 2022, the African refined olive oil market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption showed a pronounced downturn. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Refined Olive Oil Production in Africa

In value terms, refined olive oil production reached $X in 2022 estimated in export price. In general, production recorded a mild setback. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Refined Olive Oil Exports

Exports in Africa

In 2022, refined olive oil exports in Africa fell notably to X tons, with a decrease of X% on 2021. Overall, exports recorded a perceptible descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined olive oil exports stood at $X in 2022. In general, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Tunisia was the main exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Morocco (X tons), comprising a X% share of total exports. The following exporters - South Africa (X tons) and Egypt (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined olive oil exports from Tunisia stood at X%. At the same time, Egypt (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. South Africa and Morocco experienced a relatively flat trend pattern. While the share of Morocco (X p.p.) and Egypt (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tunisia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X) remains the largest refined olive oil supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Morocco ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Tunisia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (X% per year) and South Africa (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Egypt ($X per ton) and South Africa ($X per ton), while Tunisia ($X per ton) and Morocco ($X per ton) were amongst the lowest.

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

Refined Olive Oil Imports

Imports in Africa

In 2022, approx. X tons of refined olive oil were imported in Africa; rising by X% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined olive oil imports skyrocketed to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Morocco represented the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Angola (X tons), Seychelles (X tons), Mozambique (X tons) and Cabo Verde (X tons), together generating a X% share of total imports. The following importers - Mauritius (X tons), South Africa (X tons), Ghana (X tons), Democratic Republic of the Congo (X tons), Somalia (X tons) and Egypt (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined olive oil imports into Morocco stood at X%. At the same time, Seychelles (X%), Somalia (X%), Democratic Republic of the Congo (X%), Ghana (X%) and Mozambique (X%) displayed positive paces of growth. Moreover, Seychelles emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Cabo Verde and Mauritius experienced a relatively flat trend pattern. By contrast, Egypt (X%), Angola (X%) and South Africa (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Morocco, Seychelles and Democratic Republic of the Congo increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) constitutes the largest market for imported refined olive oil in Africa, comprising X% of total imports. The second position in the ranking was held by Angola ($X), with a X% share of total imports. It was followed by Seychelles, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Morocco totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Angola (X% per year) and Seychelles (X% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform