Virgin olive oil and fractions market in MENA

Earlier Report Observations

The MENA virgin olive oil market volume expanded from 587 thousand tons in 2018 to 694 thousand tons in 2019. Olive cultivation is deeply rooted in the regional economy, though traditional processing methods in countries like Morocco, Algeria, and Tunisia have been associated with environmental challenges from olive waste.

Market volume then contracted to 581 thousand tons in 2020 and fell further to 477 thousand tons in 2021.

Volume recovered to 642 thousand tons in 2022, a period marked by regional heatwaves and drought that pressured supply. By 2023, it settled at 624 thousand tons, a year when a sharp decline in European Union olive oil production boosted global prices and demand for MENA oils, while new agricultural clusters and specialized companies in Saudi Arabia enhanced local production capabilities.

Production virgin olive oil and fractions in MENA

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

MENA's production of virgin olive oil and fractions has grown for the third year in a row. In 2020, the region produced 931.5 thousand tons, marking a 10.9% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 38.3%, with an average annual growth rate of 11.4%.

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

In value, 2017-2020, M $ US

MENA's production of virgin olive oil and fractions in value terms has declined for the second consecutive year. In 2020, the output was valued at 2 208 million US dollars, down 14.4% compared to 2019. Over the 2017-2020 period, production value decreased by 24.7%, with an average annual decline of 9.0%. The highest value was recorded in 2018 at 3 043 million US dollars. The largest drop occurred in 2019 with a 15.2% decrease, while the biggest increase was in 2018 at 3.7%.

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

Exports virgin olive oil and fractions from MENA

Exports in kind, K t

The market showed an unstable trend over the observed period. Exports reached their lowest point in 2017 and peaked in 2020, with a 3.3-fold difference between these years. In 2020, MENA exported 411.0 thousand tons of virgin olive oil and fractions, representing a sharp 93.7% increase from 2019. The largest decline was in 2019 at 15.3%, while the biggest increase was in 2018 at 102.9%.

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

From 2017 to 2020, the main buyers of virgin olive oil and fractions from MENA were Spain (36.9% of exports in volume), Italy (19.5%), and the United States (12.9%). Together, these three countries accounted for 69.2% of total exports in volume.

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

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

Exports in value, M $ US

The market exhibited volatility during the period. Export values varied 1.8 times from the low in 2017 to the high in 2020. In 2020, MENA exported 974.5 million US dollars worth of virgin olive oil and fractions, showing a 49.6% advance from 2019. The largest decline was recorded in 2019 at 33.1%, while the biggest increase was in 2018 at 81.1%.

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

Over the 2017-2020 period, Spain (31.9% of exports in value), Italy (19.5%), and the United States (14.9%) remained the leading destinations for MENA's exports in value terms. Combined, they represented 66.3% of total export flows.

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

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

Imports virgin olive oil and fractions to MENA

Imports in kind, K t

After two years of growth, MENA's imports of virgin olive oil and fractions in volume declined. In 2020, the region imported 66.3 thousand tons, indicating a measured fall of 8.3% compared to 2019. Over the 2017-2020 period, imports increased by 30.2%, with an average annual growth rate of 9.2%. The highest volume was recorded in 2019 at 66.3 thousand tons, which also saw the largest increase of 21.5%.

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

From 2017 to 2020, the partner landscape for imports in volume was diverse. Spain (21.5% of imports in volume), Turkey (13.1%), and Italy (6.7%) together accounted for only 41.4% of total flows, with the remaining 58.6% coming from many other countries.

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

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

Imports in value, M $ US

MENA's imports of virgin olive oil and fractions in value terms declined for the second year in a row. In 2020, the region imported 240.0 million US dollars, which is 10.2% less than in 2019. Between 2017 and 2020, import value increased by 11.6%, equating to an average annual rate of 3.7%. The highest value was recorded in 2018 at 291.0 million US dollars, which also saw the largest increase of 35.2%.

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

Over the 2017-2020 period, there was no single dominant market for imports in value terms. Spain (24.6% of imports in value), Turkey (14.3%), and Italy (9.5%) together took only 48.4% of total imports, while many smaller partners each held modest individual shares.

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

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