Olive Oil Export to India Jumps 49% in 2011.

MUMBAI: Olive Oil exports to India from Italy and Spain registered an enormous increase during the calendar year 2011 with a jump of 49%. Total exports by the two major olive oil producing nations from January - December, 2011 were 5938 MT against 3988 MT in 2010 based on customs data from Italy and Spain.

Italy and Spain together constitute more than 90% of India's imports. Import from Turkey, for which accurate data is not yet available, comprises 5 to 10% of the total. Imports from the other notable olive oil producing nations, viz Greece, Syria, Tunisia are virtually nil. 56% of the total during 2011 came from Spain against 44% from Italy. The corresponding percentages in 2010 were 54% from Spain and 46% from Italy.

The rate of growth of olive pomace oil imports in 2011 vs. 2010 was highest at 131%. Virgin olive oil followed with 26%. Olive oil exports to India from Italy and Spain during the month of January, 2012, the latest month for which data is available were 663MT against 254 MT in January, 2011, a growth of 161%.

Imports by India from Italy and Spain during the Crop Year October 2010 to September 2011, which is the period recorded by the industry, registered an increase of 63%. Total exports by Italy and Spain were 5182 MT against 3175 MT in Crop Year 2009-10. Crop year data is the standard followed by the International Olive Council and the national associations of olive producing nations around the world.

Table Olive imports by India from Spain, which constitute more than 80% of total imports, during the calendar year were 626 MT essentially remaining flat when compared with the previous calendar year 2010 in which imports were 637. However, 2010 showed a big jump of 46% over 2009 during which imports were 435 MT.

Source : economictimes.indiatimes.com