The rising thirst for olive oil in Asia
Spain has once again maintained its position as the top olive oil exporter in the world. This is despite the fact that domestic use has shrunk and that severe drought brought by climate change affects so much of Spain’s olive oil production.
One of the growing importers of olive oil in the recent years is Asia. Here are the top three countries that consume most of the olive oil production in the recent years:
China’s stimulation for more olive oil production
Demanding 17 per cent of the world’s total production of olive oil in the first quarter of 2016-2017, China took the first place of olive oil importation in Asia.
Olive oil is considered a luxury food or food ingredient in China. However, despite its high price, Chinese consumers still buy because of its health benefits.
Another reason is that more Chinese tourists are flooding European countries like Spain. They have witnessed how olive oil is used in Mediterranean cuisine and it adds more knowledge to their learning about the benefits of EVOO.
Japan’s government advocacy towards a healthy lifestyle
The growing thirst for olive oil in Japan became more evident in 2016 when Japan became Asia's largest consumer per capita, and also placed 14th in the world. The increase was continuous from 1992.
Olive oil is much appreciated in Japan mainly because of its health benefits. The demand for olive oil, especially extra virgin olive oil, increased because of the solid support of the government. The Japanese government is currently campaigning for a healthy lifestyle and diet.
Spain is the top private label olive oil exporter of Japan, followed by Italy.
Olive Oil Cravings of South Korea
It’s no secret that Korean cuisine created a massive upswing in the recent years, not only domestically but also abroad.
With that comes the demand for using healthy food ingredients, including olive oil. Both extra virgin olive oil and virgin olive oil tops the most used type of olive oil in South Korea.
And once again, Spain has dominated the olive oil market in South Korea, exporting up € 1,334 million worth of olive oil in the first 7 months of 2017.
How Spain is meeting the demand in Asia
Basically, Asia’s climate and the agricultural condition is not fit for olive oil production. Yet because of the dire chase of having a healthier lifestyle, consumers from all over the world prefer to use vegetable oil of high-quality oil like extra virgin olive oil from Spain than just using regular oil.
One of the most important reasons why Spain is the top sought olive oil exporter nowadays is because of its quality and price.
Compared to other exporters, like Greece and Italy, Spanish olive oil has a great price to value relationship, and this is also the reason why L&P Global tops the Chinese market when it comes to olive oil exportation.
To know more about our products including our olive oil, feel free to contact us.