China bought less olive oil in past months. Why?
European Union countries supply 90% of China’s imports. Imports of virgin olive oil have recorded season-on-season growth, increasing their share from 82% in 2010/11 to 84% in 2011/12 and 88% in 2012/13
Chinese imports of olive oil and olive pomace increased exponentially between the 2001/02 and 2011/12 crop years but contracted 6% between 2011/12 and 2012/13.
The monthly data for 2012/13 show a sharp decrease in imports in the first seven months of the season from October 2012 to April 2013 but they then reversed direction and turned upwards in the next three months from May to July 2013.
Despite this recovery, just two months away from the close of the crop year everything seems to indicate that imports will be lower than in 2011/12.
European Union countries supply 90% of China’s imports, with Spain leading the way (61%), followed by Italy (22%), Greece (6%) and Portugal (1%). The remaining 10% comes from Tunisia (3%), Turkey (2%), Australia (2%) and Syria (1%).
Imports of virgin olive oil have recorded season-on-season growth, increasing their share from 82% in 2010/11 to 84% in 2011/12 and 88% in 2012/13.
Product belonging to the olive oil grade accounted for 7%of total imports in 2010/11, going down to 5% in the next two crop years while imports of olive pomace oil dropped from 11% of the total in 2012/11 and 2011/12 to 7% in 2012/13.