Refined Olive Oil Market Overview in Norway
In value terms, refined olive oil production expanded sharply to $ in 2019 estimated in export prices. In general, production, however, recorded notable growth. The growth pace was the most rapid in 2009 with an increase of % against the previous year. Refined olive oil production peaked at $ in 2015; however, from 2016 to 2019, production remained at a lower figure.
The revenue of the refined olive oil market in Norway reduced rapidly to $ in 2019, shrinking 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the market value increased by % against the previous year. Over the period under review, the market attained the peak level at $ in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.