Saudi Arabia's olive oil imports are projected to increase from 37.0 thousand metric tons in 2024 to 39.0 thousand metric tons in 2028. This steady growth reflects an incremental rise of 1.0 thousand metric tons every two years. In comparison, the import volumes for 2023 were recorded at 36.0 thousand metric tons. The year-on-year variation shows a 2.7% increase from 2023 to 2024, and similar rates are observed for the subsequent years. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 1.3%.
Future trends to watch for include shifts in consumer preferences towards healthier oils, potential impacts of trade policies, and economic factors influencing import capacities. Additionally, local production capabilities and advancements in agricultural techniques could affect future import levels. It's also essential to consider global olive oil market trends and supply fluctuations.
