Italy: Olive Oil Market 2024

Olive Oil Market Size in Italy

The Italian olive oil market fell dramatically to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a abrupt setback. Olive oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Olive Oil Production in Italy

In value terms, olive oil production soared to $X in 2022 estimated in export price. Overall, production saw a abrupt downturn. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Olive Oil Exports

Exports from Italy

In 2022, approx. X tons of olive oil and its fractions were exported from Italy; increasing by X% on the previous year. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, olive oil exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The United States (X tons), Germany (X tons) and France (X tons) were the main destinations of olive oil exports from Italy, with a combined X% share of total exports. Japan, Canada, the UK, Switzerland, Russia, Spain, Brazil, Belgium and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for olive oil and its fractions exports from Italy, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by France, with an X% share.

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

Export Prices by Country

In 2022, the average olive oil export price amounted to $X per ton, declining by X% against 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 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Spain ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Oil Imports

Imports into Italy

In 2022, approx. X tons of olive oil and its fractions were imported into Italy; picking up by X% against 2021 figures. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, olive oil imports fell to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest olive oil supplier to Italy, with a X% share of total imports. Moreover, olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Greece (X tons), threefold. The third position in this ranking was taken by Tunisia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Tunisia (X% per year).

In value terms, Spain ($X) constituted the largest supplier of olive oil and its fractions to Italy, comprising X% of total imports. The second position in the ranking was held by Greece ($X), with a X% share of total imports. It was followed by Tunisia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Tunisia (X% per year).

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, import 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 import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Portugal ($X per ton) and Greece ($X per ton), while the price for Tunisia ($X per ton) and Spain ($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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