Middle East: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in the Middle East

The Middle Eastern virgin olive oil market dropped to $X in 2023, leveling off at the previous year. Over the period under review, consumption continues to indicate a mild decrease. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Virgin Olive Oil Production in the Middle East

In value terms, virgin olive oil production reached $X in 2023 estimated in export price. Over the period under review, production continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

Virgin Olive Oil Exports

Exports in the Middle East

In 2023, approx. X tons of virgin olive oil were exported in the Middle East; picking up by X% on the previous year's figure. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, virgin olive oil exports surged to $X in 2023. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the near future.

Exports by Country

Turkey represented the key exporter of virgin olive oil in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. Syrian Arab Republic (X tons) held the second position in the ranking, distantly followed by Palestine (X tons). All these countries together held near X% share of total exports. The following exporters - Lebanon (X tons) and Jordan (X tons) - each amounted to a X% share of total exports.

Turkey was also the fastest-growing in terms of the virgin olive oil exports, with a CAGR of X% from 2012 to 2023. At the same time, Syrian Arab Republic (X%), Jordan (X%), Lebanon (X%) and Palestine (X%) displayed positive paces of growth. From 2012 to 2023, the share of Turkey increased by X percentage points.

In value terms, Turkey ($X) remains the largest virgin olive oil supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Syrian Arab Republic ($X), with a X% share of total exports. It was followed by Palestine, with a X% share.

In Turkey, virgin olive oil exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Syrian Arab Republic (X% per year) and Palestine (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure in 2023 and is likely to see steady growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports in the Middle East

In 2023, supplies from abroad of virgin olive oil was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a prominent expansion. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, virgin olive oil imports soared to $X in 2023. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

Imports by Country

Turkey was the key importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Saudi Arabia (X tons), the United Arab Emirates (X tons) and Israel (X tons), together mixing up a X% share of total imports. Iran (X tons), Kuwait (X tons) and Qatar (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the virgin olive oil imports, with a CAGR of X% from 2012 to 2023. At the same time, Iran (X%), Israel (X%), the United Arab Emirates (X%), Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. Qatar experienced a relatively flat trend pattern. From 2012 to 2023, the share of Turkey increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported virgin olive oil in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Israel, with an X% share.

In Turkey, virgin olive oil imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Israel (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, which is down by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform