Refined Olive Oil Prices

Refined Olive Oil Prices December 2023

The price of refined olive oil in the United States for Q4 2023 reached 8040 USD/MT in December. Similarly, the price trend in China concluded at 8259 USD/MT in December 2023. Moreover, Germany’s refined olive oil price was 9475 USD/MT during the same period.

Refined Olive Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Refined Olive Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of refined olive oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of refined olive oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of refined olive oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing refined olive oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Refined Olive Oil Market Analysis

The global refined olive oil market size reached 2.35 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 2.66 Million Tons, at a projected CAGR of 1.40% during 2023-2032.

• The increasing awareness about the health benefits of olive oil, particularly its high monounsaturated fat content and antioxidants, has led consumers to prefer it over other cooking oils, boosting the market demand.
• Besides this, the rise in disposable incomes, especially in emerging economies, has enabled more consumers to afford premium and healthier cooking oils like refined olive oil, leading to increased consumption.
• Moreover, the expanding food and beverage (F&B) industry, including the growth of the restaurant and hospitality sectors, has heightened the demand for refined olive oil due to its versatility and suitability for high-temperature cooking.
• The market is also supported by the influence of Mediterranean cuisine, which heavily features olive oil, driving demand as more people incorporate these dietary habits into their lifestyles.
• The growing trend towards natural and organic products has seen a rise in the demand for refined olive oil, which is perceived as a healthier and more natural option compared to other refined oils, thus creating a positive outlook for market expansion.
• Moreover, significant advancements in olive oil refining technologies have improved the quality and shelf-life of refined olive oil, making it more attractive to both consumers and food manufacturers and contributing to the market growth.
• Additionally, marketing and promotional activities by leading brands have played a crucial role in educating consumers about the benefits and uses of refined olive oil, thereby increasing market penetration.
• In confluence with this, government policies and regulations promoting healthy eating and the use of healthier oils in food preparation are propelling the growth of the refined olive oil market.
• Furthermore, the rise in health issues related to diet, such as obesity and cardiovascular diseases (CVDs), has driven consumers to seek healthier dietary fats, with refined olive oil emerging as a preferred choice.
• Apart from this, the expansion of retail channels, including online platforms, has made refined olive oil more accessible to a broader audience, facilitating easier purchases and thereby fueling market growth. 

Refined Olive Oil News

The report covers the latest developments, updates, and trends impacting the global refined olive oil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in refined olive oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the refined olive oil price trend.

Latest developments in the refined olive oil industry:

• In 2024, two previously unknown olive cultivars were discovered in Frosinone, a province in the central Italian region of Lazio. The Italian National Research Center (CNR) laboratory tested several tree samples and confirmed that their DNA did not match any known variety listed in the IBBR-CNR database in Perugia. The two newly found cultivars might be genetically related to cultivars in Veneto, specifically the Favarol variety. The discovery of these new olive varieties could establish a new area for certified-originated olive oil production.  

Product Description

Refined olive oil is a type of olive oil that undergoes a refining process to improve its flavor, color, and overall quality. Unlike extra virgin or virgin olive oil, refined olive oil is produced from lower-quality olives or residue left after the first pressing. The oil is treated with chemicals and heat to neutralize its acidity, remove defects, and eliminate off-flavors or odors. The refining process involves several steps, including the extraction of crude oil, which often contains impurities like free fatty acids and peroxides. The oil is then subjected to degumming, neutralization, bleaching, and deodorization.

The result is a clear, light-colored oil with a neutral taste and aroma, often blended with a small amount of extra virgin or virgin olive oil to enhance its flavor and nutritional profile. Refined olive oil has a higher smoke point compared to extra virgin olive oil, making it suitable for high-temperature cooking methods like frying and sautéing.

Refined olive oil is widely used in both domestic and commercial kitchens due to its versatility, mild flavor, and suitability for various cooking applications. It provides a stable and consistent product that can withstand higher cooking temperatures without breaking down or producing harmful compounds.

Regional Coverage

The report provides a detailed analysis of the refined olive oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the refined olive oil price trend. 

Global Refined Olive Oil Price

The report offers a holistic view of the global refined olive oil pricing trends in the form of refined olive oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of refined olive oil but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed refined olive oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Refined Olive Oil Price

European refined olive oil prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed refined olive oil price information for a comprehensive list of countries.

North America Refined Olive Oil Price

The analysis of refined olive oil prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific refined olive oil historical data within the United States and Canada can also be provided.

Middle East and Africa Refined Olive Oil Price

The report explores the refined olive oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on refined olive oil prices for countries can also be provided.

Asia Pacific Refined Olive Oil Price

The refined olive oil pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This refined olive oil price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Refined Olive Oil Price

The analysis of refined olive oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of refined olive oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting refined olive oil price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The refined olive oil price charts ensure our clients remain at the forefront of the industry.