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India's Olive Oil Imports Expected to Rise 20 Percent

India's imports of olive oil are expected to rise by 20 percent to 13,500 tons according to the Indian Olive Association. Most of it will come from Spain.

By Isabel Putinja
Sep. 28, 2016 13:19 UTC
126
Summary Summary

India’s imports of olive oil are expected to rise by 20 per­cent, with an esti­mated 13,500 tons needed dur­ing the cur­rent fis­cal year due to increased demand among urban con­sumers. The major­ity of olive oil imports into India come from Spain, Italy, and Turkey, with domes­tic pro­duc­tion not yet meet­ing the demand.

India’s imports of olive oil are expected to rise by 20 per­cent, accord­ing to the Indian Olive Association.

Due to ris­ing demands for olive oil among urban Indian con­sumers, it is esti­mated that 13,500 tons will need to be imported dur­ing the cur­rent fis­cal year. So far this year, 11,106 tons of olive oil have been imported, with 65 per­cent sourced from Spain, the world’s largest pro­ducer of olive oil, as well as Italy and Turkey.
See Also:Olive Oil Imports and Exports
As reported in The Economic Times, the Indian Olive Association’s pres­i­dent, Rajneesh Bhasin, announced that 3,062 tons of olive oil was imported in the three-month period from April to June, rep­re­sent­ing a 19 per­cent increase com­pared to a year ago.

Based on these fig­ures, sim­i­lar growth is expected in com­ing months, accord­ing to Bhasin, and imports were down last year due to high global olive oil prices, increased import duties, and a weak Rupee against the Euro.

Though India is exper­i­ment­ing with olive pro­duc­tion in the state of Rajasthan, domes­tic olive oil is not yet avail­able on the Indian mar­ket, and imports are nec­es­sary to sat­isfy demand.

Indians con­sume a small amount of olive oil com­pared to other oils: only 0.1 per­cent of the 17 mil­lion tons of edi­ble oils con­sumed every year. A three-year adver­tis­ing cam­paign pro­mot­ing olive oil was launched in India in 2014 with the mes­sage that olive oil is a healthy alter­na­tive to other oils and suit­able for Indian cui­sine.

Today there are over 90 olive oil brands com­pet­ing for Indian con­sumers, with olive pomace oil dom­i­nat­ing the mar­ket.


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