Refined Olive Oil Market Overview in the European Union
In value terms, refined olive oil production declined modestly to $ in estimated in export prices. Over the period under review, production recorded a slight decrease. The most prominent rate of growth was recorded in 2008 when the production volume increased by % y-o-y. As a result, production attained the peak level of $. From 2009 to , production growth failed to regain the momentum.
Spain ( tonnes) remains the largest refined olive oil producing country in the European Union, comprising approx. % of total volume. Moreover, refined olive oil production in Spain exceeded the figures recorded by the second-largest producer, Germany ( tonnes), threefold. The third position in this ranking was occupied by Italy ( tonnes), with a % share.
From 2007 to , the average annual rate of growth in terms of volume in Spain was relatively modest. In the other countries, the average annual rates were as follows: Germany (+% per year) and Italy (+% per year).
The value of the refined olive oil market in the European Union declined to $ in , waning by -% 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 mild curtailment. The most prominent rate of growth was recorded in 2008 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market remained at a somewhat lower figure.
From 2007 to , the biggest increases were in Italy, while refined olive oil consumption for the other leaders experienced more modest paces of growth.
In value terms, France ($), Germany ($) and Spain ($) were the countries with the highest levels of market value in , with a combined % share of the total market. Italy, Poland, the Netherlands, Belgium, Sweden, Greece, the Czech Republic, Romania and Portugal lagged somewhat behind, together comprising a further %.
In terms of the main consuming countries, Italy saw the highest rates of growth with regard to market size, over the period under review, while refined olive oil market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of refined olive oil per capita consumption in were Spain ( kg per person), Belgium ( kg per person) and Italy ( kg per person).
From 2007 to , the most notable rate of growth in terms of refined olive oil per capita consumption, amongst the key consuming countries, was attained by Italy, while refined olive oil per capita consumption for the other leaders experienced more modest paces of growth.