Opportunities in the Serbian market for Spanish olive oil

Published 2024년 7월 2일

Tridge summary

Spanish olive oil exports to Serbia saw a significant increase of 40% in 2023 compared to the previous year, reaching values that are 84.2% higher than pre-pandemic periods. This growth is primarily due to an increase in prices, attributed to rising energy costs and a global decline in production, as well as a decrease in volume. Spain emerged as the leader in the international olive oil market, with a 113.3% increase in exports' value from 2019 to 2023. The olive oil sector in Serbia is expected to grow, with a projected increase in sales volume by 20.8% and value by 47.2% from 2023 to 2028. However, Spanish brands face competition in the Serbian market, especially from private and economic brands. To improve their standing, these brands need to boost their promotional efforts and associate Spain with the production of high-quality olive oil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Spanish exports of olive oil to Serbia registered a notable increase of 40% in 2023 compared to the previous year, reaching figures 84.2% higher than those of the pre-pandemic period, as reflected in the report “The oil market olive in Serbia”, prepared by the Economic and Commercial Office of the Spanish Embassy in Belgrade. This growth in value is mainly due to the increase in prices, while the volume of exports increased by 9.9% between 2019 and 2023. Factors behind the price increase The increase in olive oil prices responds to several factors, including rising energy costs and a global decline in production. In particular, the Serbian market has experienced a significant inflationary process between 2021 and 2023, with inflation rates of 23.8% for edible fats in March 2023. Fortunately, inflation has started to reduce, showing negative rates since November. Leadership in the international market In the olive oil category, Spain reached first position in 2022. Between 2019 and ...

Source: Oleorevista