Virgin olive oil and fractions market in Africa

Earlier Report Observations

The African virgin olive oil market displayed considerable volatility in volume from 2018 to 2023. After an initial rise to 449 thousand tons in 2019, the market contracted significantly over the next two years, falling to 313 thousand tons in 2021. A strong recovery followed, with the market expanding to 387 thousand tons in 2022 and then surging by 21% to reach 470 thousand tons in 2023, the highest level in the period.

The sharp market growth in 2023 was primarily driven by rising consumption in non-traditional African markets and a strategic shift in consumer preferences towards extra virgin and other high-quality olive oils, fueled by greater health awareness. This surge in domestic demand coincided with a dramatic collapse in export volumes, which fell to just over 1 thousand tons, keeping substantially more production within the region.

Entering 2024, the market's evolution was influenced by new agricultural and export policies in countries like Egypt, which aimed to boost domestic production and exports. Concurrently, climate factors, including drought in key Mediterranean producing regions, affected global supply and prices, while the entry of new players and infrastructure improvements signaled ongoing changes in the African production landscape.

Production virgin olive oil and fractions in Africa

In kind, 2017-2020, K t

Top producers of virgin olive oil and fractions, 2017-2020

World map of production of virgin olive oil and fractions, 2017-2020

Africa's virgin olive oil and fractions production has grown for the third year in a row. In 2020, the continent produced 731.1 K t, marking a significant 20.2% increase from 2019. Looking at the period from 2017 to 2020, production rose by 66.3%, with an average annual growth rate of 18.5%.

Annual dynamics of production in Africa in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Africa's virgin olive oil and fractions production value has declined for the second consecutive year. In 2020, the output was valued at 1 653 M $ US, showing a modest 6.0% decrease compared to the previous year. From 2017 to 2020, production value fell by 14.5%, which translates to an annualized decline of 5.1%. The highest value was recorded in 2018 at 2 267 M $ US. The largest drop occurred in 2019 with a 22.4% decrease, while the biggest increase was in 2018 at 17.2%.

Annual dynamics of production in Africa in value, 2017-2020, M $ US

Exports virgin olive oil and fractions from Africa

Exports in kind, K t

The market showed an unstable trend over the period. The lowest export volume was in 2017, while the highest was in 2020, with a 3.9-fold difference between these years. In 2020, Africa exported 365.7 K t of virgin olive oil and fractions, representing a sharp 109.1% increase from the previous year. The largest decline was in 2019 at 18.1%, and the largest increase was in 2018 at 128.7%.

Annual dynamics of product's exports from Africa in kind, 2017-2020, K t

From 2017 to 2020, Spain (41.6% of exports in kind), Italy (24.2% of exports in kind), and the United States (15.5% of exports in kind) were the top destinations, together accounting for 81.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Africa in kind, 2017-2020

Exports in value, M $ US

The market exhibited an unstable trend throughout the timeframe. Exports reached their lowest point in 2017 and peaked in 2020, with a 2-fold variation. In 2020, Africa's exports of virgin olive oil and fractions were valued at 826.9 M $ US, reflecting a dramatic 63.5% rise compared to the previous year. The largest decline was in 2019 at 37.2%, and the largest increase was in 2018 at 96.0%.

Annual dynamics of product's exports from Africa in value, 2017-2020, M $ US

From 2017 to 2020, the leading destinations for exports in value terms were Spain (34.4% of exports in value terms), Italy (23.9% of exports in value terms), and the United States (17.7% of exports in value terms), which together made up 76.0% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Africa in value, 2017-2020

Imports virgin olive oil and fractions to Africa

Imports in kind, K t

The market showed an unstable trend over the period. Imports bottomed in 2017 and peaked in 2018, with a 2-fold difference. In 2020, Africa imported approximately 16.2 K t of virgin olive oil and fractions, up by 2.9% from the previous year. The highest volume was recorded in 2018 at 30.0 K t. The largest decline was in 2019 at 47.6%, and the largest increase was in 2018 at 102.4%.

Annual dynamics of product's imports to Africa in kind, 2017-2020, K t

From 2017 to 2020, Spain (30.6% of imports in kind), Portugal (24.2% of imports in kind), and Italy (12.0% of imports in kind) were the main contributors to imports in kind, jointly accounting for 66.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Africa in kind, 2017-2020

Imports in value, M $ US

In 2020, foreign supplies of virgin olive oil and fractions to Africa reached 73.5 M $ US, up by 49.6% year-over-year. Between 2017 and 2020, imports increased by 4.8%, equating to an annualized growth rate of 1.6%. The lowest value was recorded in 2019 at 49.2 M $ US, while the highest was in 2018 at 75.3 M $ US. The largest decline occurred in 2019 at 34.8%.

Annual dynamics of product's imports to Africa in value, 2017-2020, M $ US

From 2017 to 2020, Spain (40.1% of imports in value terms), Italy (14.7% of imports in value terms), and Portugal (12.6% of imports in value terms) consistently remained the top destinations for imports in value terms, together accounting for 67.4% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Africa in value, 2017-2020