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Tridge Guide

Olive Oil Guide

HS Code: 1509 - Olive oil and its fractions; whether or not refined, but not chemically modified
HS Code: 0261 - Oil, olive, virgin
Top Exporter
ES flagSpain
Top Importer
IT flagItaly
Export Value
1Y +11.21%
Import Value
1Y +10.54%
Updated Jan 18, 2023

Trade Overview

Which markets are the fastest growing suppliers of olive oil?

While even top exporters like Spain and Tunisia have seen some significant growths between 2010 and 2019, the two countries that have grown the most during that time are Turkey and Syria. In 2010, the countries held export values of around USD 64M each. In 2019, both countries exceeded the USD 100M line, increasing by about 60 percent each. Turkey in particular, during peak seasons, reached export values that exceeded USD 200M. In 2013, both countries almost reached an export value of USD 300M, which would have been a 360 percent increase. These two countries are also growing as increasingly popular destinations for olive oil re-export from suppliers in the rest of the Mediterranean, particularly those that are members of the EU.

Olive Oil

Where are the main importing countries?

Portugal and Italy are the main importing countries and also the top producing countries in the world. Demand in the US, UK, and Japan is rising.

The demand in India is increasing right now, and buyers want the product at a very cheap price. Because of the price, the buyers from India tend to purchase the olive oils from last year(shelf life is 2 years) - which are likely to be less fresh than this year - at cheaper prices.

Olive Oil

Which markets are the fastest growing buyers of olive oil?

Several markets have started to import more olive oil in the past decade. Spain, Japan, China, and Saudi Arabia are among the biggest growing markets. Due to increased demand in consumption, imports increased by 210%, 60.7%, 110%, and 169% respectively. In 2015, Spanish demand for olive oil reached even as high as USD 620M, which is a 428% difference from 2010 numbers.

Olive Oil
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