The olive oil import volume in India stood at 13 thousand metric tons in 2023, consistent with the value observed since 2016. The data show minor fluctuations prior to 2016, after which the volume stabilized. From 2019 to 2023, imports have seen no year-on-year changes, reflecting a stable import volume.
Significant variations were observed earlier, such as a drop by 8.33% in 2015, followed by an 18.18% increase in 2016. However, these fluctuations evened out, resulting in a zero percentage year-on-year variation over the last two years.
The compound annual growth rate (CAGR) over the last five years (from 2019 to 2023) remains at 0%, indicating a flat trend. Future forecasts predict this stability to continue, with no increase in olive oil imports projected through 2028.
Future trends to watch for:
- Potential changes in import regulations or trade policies affecting olive oil trade.
- Consumer preference shifts towards olive oil or other cooking oils.
- Economic factors influencing overall import capacity and demand.
- Price fluctuations in the global olive oil market.
