GCC: Olive Market 2024

Olive Market Size in GCC

After two years of growth, the GCC olive market decreased by X% to $X in 2022. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Olive Production in GCC

In value terms, olive production amounted to $X in 2022 estimated in export price. In general, production saw a pronounced setback. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Saudi Arabia (X tons) remains the largest olive producing country in GCC, accounting for X% of total volume.

In Saudi Arabia, olive production expanded at an average annual rate of X% over the period from 2012-2022.

In 2022, the average olive yield in GCC shrank modestly to X tons per ha, approximately mirroring 2021 figures. The yield indicated a tangible increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive yield decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the olive yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of olives in GCC declined modestly to X ha, flattening at the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then shrank modestly in the following year.

Olive Exports

Exports in GCC

In 2022, the amount of olives exported in GCC declined significantly to X tons, waning by X% on 2021. Overall, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, olive exports reduced notably to $X in 2022. Over the period under review, exports recorded a abrupt decline. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the main exporter of olives, achieving X% of total exports. It was distantly followed by Kuwait (X tons), achieving a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the olives exports, with a CAGR of X% from 2012 to 2022. Kuwait (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest olive supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 an increase of X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%).

Olive Imports

Imports in GCC

In 2022, supplies from abroad of olives was finally on the rise to reach X tons after five years of decline. Overall, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, olive imports rose slightly to $X in 2022. Over the period under review, imports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of olive imports in 2022 were the United Arab Emirates (X tons), Oman (X tons) and Kuwait (X tons), together finishing at X% of total import. Bahrain (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%).

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Oman ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Oman, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by X% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, olive import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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