Egypt: Olive Oil Market 2024

Olive Oil Market Size in Egypt

The Egyptian olive oil market fell slightly to $X in 2022, declining by X% against the previous year. In general, consumption, however, saw a buoyant expansion. Olive oil consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Olive Oil Production in Egypt

In value terms, olive oil production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Olive oil production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Olive Oil Exports

Exports from Egypt

After two years of growth, overseas shipments of olive oil and its fractions decreased by X% to X tons in 2022. Over the period under review, exports saw a sharp contraction. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, olive oil exports fell dramatically to $X in 2022. In general, exports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for olive oil exports from Egypt, with a X% share of total exports. Moreover, olive oil exports to Spain exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

In value terms, Spain ($X) remains the key foreign market for olive oil and its fractions exports from Egypt, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the average olive oil export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into Egypt

In 2022, overseas purchases of olive oil and its fractions were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a perceptible descent. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, olive oil imports rose to $X in 2022. In general, imports, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), Spain (X tons) and Tunisia (X tons) were the main suppliers of olive oil imports to Egypt, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest olive oil suppliers to Egypt were Spain ($X), Italy ($X) and Tunisia ($X), together accounting for X% of total imports.

Tunisia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average olive oil import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Greece ($X per ton) and Tunisia ($X per ton), while the price for Lebanon ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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