Export to China is Rising
The largest olive oil importing countries in 2016-2017 are Australia, Brazil, Canada, and China and Japan. United States and Europe are downstream of imports. In the same sense, they are the major producers and exporters.
The olive oil and olive pomace oil imports of the eight markets in the following table for the first ten months of the crop (October 2016 to July 2017) indicate that Brazil is up 25% 20% in Australia; China 10%; 8 % in Russia; 1% in Canada, Japan is stable. However, in the United States, imports fell by 5% from the previous year. The EU figures for the first nine months of this year (October to June 2017) indicate that the EU’s internal acquisitions have risen by 5% and EU imports have fallen by 6% compared to the same period of last year.
China imported about 50,000 tons in 2016-2017. It is the fourth largest country in the world to import olive oil.
China produces its own olive oil
According to official sources quoted by the International Olive Council, 25 steel mills in China produced 5,000 tons of olive oil this year, an increase of 75% from the previous quarter. China producers are mainly located in Gansu, Shaanxi and Sichuan provinces. Area of land used for olive production amounts to 86,000 hectares.
Why does China import olive oil?
As Chinese society become richer, people want better and healthier product. Olive oil is considered to be healthy oil. And Chinese believe that imported olive oil is more reliable. In a survey of olive oil quality and confidence, 68% of Chinese have the same findings. They are willing to pay more for imported olive oil. The fact that China weather is not suitable for growing the best olive trees. People's views may be gained in objective facts rather than blindly thinking that imported products are better. Therefore, China's imports of high-quality olive oil will continue to grow in the future.
Is Higher Price of Olive Oil Obstacle to enter China Market?
The higher price of olive oil is acceptableby richer Chinese society. Price was a big obstacle for imported olive oil before, but it is no longer important. The increasing concern for food safety changes many Chinese consumers’ ideas. Now they would like to pay more for health and safe food product.
Conclusion: China is The Growth Engine of Olive Oil
Up to now, Chinese are by far the lowest per capita consumption of olive oil in the world. In general, compared with the United States, China's use of olive oil is very low, which is not seen in any developed market. Olive oil is considered a healthy product, superior to other vegetable oils or non-vegetable oils. The Chinese economy is also growing stronger at the middle income level. The continuous increase in olive oil consumption and imports is unstoppable.
Consistent with many statistics, consumption of olive oil is very low, at about 45,000 tons. The above data shows that the data from 2016 to 2017 is similar to 50,000 tons. When we included local production of 5,000 tons, imports of European premium olive oil could only see continued growth.
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Above is extract of China Olive Oil Market Study Report updated in March 2018. Written in both English and Chinese, the report is available for purchase for those who want to identify potential area to grow and investment (contact: xxxxx@elaga.co). All figures, trade data, world production capacities, and other details are included. The report further looks into sources, machinery and leading technologies. Conclusion identifies area for growth and potential investment.
Table of Content
Report Background
Olive Oil Market and its Potential
Olive Oil Market – Production Capacity
Leading Producing Countries in the World
Europe export to China (official EU trade data)
China's expanding import of olive oil
China produces its own olive oil
Why does China import olive oil?
Is higher price of Olive Oil obstacle to enter into China Market
Import Origin for China Olive Oil Market
China's Growing Consumption of Olive Oil
History of Olive Oil – Another Basics
Olive Oil Manufacturing
Machinery Explained – Different Equipment and Its Characteristic
Main olive oil supply location
Major equipment suppliers
Conclusion – Investment Potential
Next Steps for Investment Potential
Example Machinery and Specification
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