Food Times Blog

New Markets Hold Promise

New Markets Hold Promise

If the markets in Mediterranean countries are saturated in olive oil, then emerging ones promise double-digit growth in consumption over the next five years. This is the forecast made by Rabobank in a report dedicated to olive oil exports. In an article featured in Teatro Naturale, the Dutch bank noted that demand in emerging markets has grown at a rate of over 13% since 2007, a pronounced trend that is likely to continue with the same grandeur in the near- to mid-term. New wealthy countries represent huge opportunities for quality product export, highlighted by statistics which show they account for 41% of the global market in terms of value. All eyes are on China and Brazil, which have recently increased import volumes of olive oil. Beijing imported 45,000 tonnes in 2012, and could become an increasingly important outlet for companies that know how to take advantage of partnerships. As with wine, the most common practice in the People’s Republic is to buy oil in bulk, to then bottle and label on Chinese soil to exploit local brands and distribution channels.