China has developed a taste for Spanish olive oil

CHINA IS THE SIXTH COUNTRY THAT CONSUMES MORE OLIVE OIL IN THE WORLD.

Chinese consumers see Spanish olive oil as a premium and quality product that provides health benefits and this is the main reason why they purchase this product.

In addition, the interest of these consumers in order to maintain a healthy diet has become a trend that has boosted sales of olive oil, which means an excellent opportunity for those Spanish olive oil companies who want to enter this market.

Over the last years, Chinese consumers have realized that olive oil is healthier than other oils and as a consequence, imports have surged, particularly in top-tier cities such as Shanghai, Beijing and Shenzhen.

Currently, China imports about 99% of olive oil that consumes, because only few areas of the country with the exception of some provinces such as Gansu, Yunnan and Sichuan, have the appropriate weather conditions to cultivate olive: hot, dry summers and mild, wet winters.

SITUATION OF THE SPANISH OLIVE OIL MARKET

Spanish olive oil is in its golden age.  Recently, its production has broken all records and has managed to unseat the other olive oil producer countries of the European Union. Spain has around 2.5 million hectares of planting area and 310 million olive trees and the country produced 1,752,100 tons of olive oil in the first six months of the 2013/14 harvest, as reported by AICA.

Nowadays, Spain represents over half of the world’s total olive oil production and China has become one of the world’s biggest importers of Spanish olive oil. Currently, Spain has 60% of the Chinese olive oil market share.

In the first half of 2013, more than 10,000 tons of Spanish oil was exported to China and three months later this amount exceeded 18,000 tons. The most popular Spanish olive oil brands are  La Masía, Mueloliva, Betis and Borges.