The olive oil export volume in Africa has shown notable fluctuations over the past decade. From a volume of 136 thousand metric tons in 2014, it peaked dramatically at 358 thousand metric tons in 2015, before experiencing a sharp decline in the following year. Subsequent years saw moderate changes with notable rebounds in 2018 and steady growth thereafter. By 2023, the export volume stood at 285 thousand metric tons with a modest year-on-year increase of 2.89% and an overall compound annual growth rate (CAGR) of 0.35% over the last five years.
Looking forward to the forecast period (2024-2028), the volume is expected to continue its upward trajectory, reaching 326.6 thousand metric tons by 2028, with a projected 5-year CAGR of 2.14% and an 11.19% overall growth rate.
Future trends to watch for:
• Disruptions in the global supply chain due to geopolitical or economic factors.
• Technological advancements in olive cultivation and harvesting in Africa.
• Market demands and pricing fluctuations on the global stage.
• Policies and support from African governments to boost agricultural exports.
