Eastern Europe: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in Eastern Europe

In 2022, the East European refined olive oil market increased by X% to $X, rising for the second consecutive year after eight years of decline. Overall, consumption, however, showed a abrupt decrease. The growth pace was the most rapid in 2021 when the market value increased by X%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Olive Oil Production in Eastern Europe

In value terms, refined olive oil production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Olive Oil Exports

Exports in Eastern Europe

In 2022, after four years of decline, there was significant growth in overseas shipments of refined olive oil, when their volume increased by X% to X tons. Total exports indicated strong growth from 2012 to 2022: its volume 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined olive oil exports surged to $X in 2022. In general, exports recorded a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic represented the largest exporter of refined olive oil in Eastern Europe, with the volume of exports recording X tons, which was near X% of total exports in 2022. Poland (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Lithuania (X%), Slovakia (X%) and Latvia (X%). The following exporters - Russia (X tons) and Estonia (X tons) - each resulted at a X% share of total exports.

Exports from the Czech Republic increased at an average annual rate of X% from 2012 to 2022. At the same time, Poland (X%), Estonia (X%), Slovakia (X%) and Russia (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Lithuania (X%) and Latvia (X%) illustrated a downward trend over the same period. The Czech Republic (X p.p.), Poland (X p.p.) and Slovakia (X p.p.) significantly strengthened its position in terms of the total exports, while Lithuania and Latvia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) emerged as the largest refined olive oil supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the Czech Republic amounted to X%. In the other countries, the average annual rates were as follows: Poland (X% per year) and Lithuania (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, rising 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 appeared the most rapid in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

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

Refined Olive Oil Imports

Imports in Eastern Europe

In 2022, after two years of decline, there was significant growth in supplies from abroad of refined olive oil, when their volume increased by X% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2012; afterwards, it flattened through to 2022.

In value terms, refined olive oil imports skyrocketed to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Russia (X tons), distantly followed by Bulgaria (X tons), Poland (X tons), the Czech Republic (X tons), Slovakia (X tons), Hungary (X tons), Lithuania (X tons) and Romania (X tons) represented the major importers of refined olive oil, together comprising X% of total imports.

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

In value terms, the largest refined olive oil importing markets in Eastern Europe were Russia ($X), Bulgaria ($X) and Poland ($X), together comprising X% of total imports.

In terms of the main importing countries, Bulgaria, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, increasing 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 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Russia ($X per ton), while Hungary ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform