Olives Market in Russia
Market Overview
In 
, the Russian olives market was finally on the rise to reach $ after three years of decline. Overall, consumption showed buoyant growth. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption remained at a lower figure.
In value terms, olives production rose significantly to $ in estimated in export price. Overall, production showed a significant increase. The most prominent rate of growth was recorded in 2008 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2016; however, from 2017 to , production remained at a lower figure.
, the Russian olives market was finally on the rise to reach $ after three years of decline. Overall, consumption showed buoyant growth. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption remained at a lower figure.In value terms, olives production rose significantly to $
in estimated in export price. Overall, production showed a significant increase. The most prominent rate of growth was recorded in 2008 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2016; however, from 2017 to , production remained at a lower figure.Consumption
In , approx. tons of olives (prepared or preserved ) were consumed in Russia; increasing by % against . Overall, consumption continues to indicate a prominent increase. Olives consumption peaked at tons in 2017; however, from 2018 to , consumption failed to regain momentum.
The revenue of the olives market in Russia expanded rapidly to $ in , surging 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). Over the period under review, consumption posted a resilient expansion. Olives consumption peaked at $ in 2017; however, from 2018 to , consumption remained at a lower figure.
, approx. tons of olives (prepared or preserved ) were consumed in Russia; increasing by % against . Overall, consumption continues to indicate a prominent increase. Olives consumption peaked at tons in 2017; however, from 2018 to , consumption failed to regain momentum.The revenue of the olives market in Russia expanded rapidly to $
in , surging 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). Over the period under review, consumption posted a resilient expansion. Olives consumption peaked at $ in 2017; however, from 2018 to , consumption remained at a lower figure.Market Forecast
Driven by increasing demand for olives (prepared or preserved ) in Russia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Russia domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
% in 2007 to % in . Russia domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
Russia remains a net importer of olives; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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