What is the price of olive oil per kilogram/pound in Cyprus today?
The retail price range for Cyprus olive oil is between US$ 10.34 and US$ 27.55 per kilogram or between US$ 4.69 and US$ 12.50 per pound(lb). Click here to see today's exact prices of olive oil in Cyprus
The retail price range in Euro for olive oil is between EUR 9.55 and EUR 25.46 per kilogram or between EUR 4.33 and EUR 11.55 per pound(lb) in Nicosia and Larnaca.
Wholesale prices
In 2024, the approximate wholesale price range for Cyprus olive oil is between US$ 7.24 and US$ 19.29 per kilogram or between US$ 3.28 and US$ 8.75 per pound(lb).
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Cyprus Olive Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Olive Oil from Cyprus has seen a steady increase over the last five years. In 2017, the price was 3.98 US $ per kg, followed by 3.53 US $ per kg in 2018. In 2019, the price dropped to 2.79 US $ per kg, before rising again to 4.14 US $ per kg in 2020. The highest price was recorded in 2021, at 5.1 US $ per kg, and the most recent price was 7.0 US $ per kg in 2022. Based on this trend, it is predicted that the export price per kilogram of Olive Oil from Cyprus will be 8.17 US $ per kg in 2023 and 9.34 US $ per kg in 2024.The Cyprus olive oil exports are classified as:
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
Cyprus Olive Oil Import Prices - Historical, Trends and Prediction
The data shows the import prices of Olive Oil into Cyprus over the past five years. In 2017, the import price per kilogram was 3.98 US dollars, followed by 3.53 US dollars in 2018. In 2019, the price dropped to 2.79 US dollars, before increasing to 4.14 US dollars in 2020. The highest price was recorded in 2021, at 5.10 US dollars per kilogram. The most recent data shows that the import price of Olive Oil into Cyprus was 7.00 US dollars per kilogram in 2022. Based on the data, it is predicted that the import price of Olive Oil into Cyprus will remain relatively high in 2023, at around 6.50 US dollars per kilogram. In 2024, the price is expected to decrease slightly to 6.00 US dollars per kilogram.Export values for Cyprus olive oil
The total values in export for olive oil in Cyprus were US$ 611, US$ 514, US$ 275 and US$ 441 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Cyprus: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of olive oil in other countries across Middle East: Bahrain olive oil, Cyprus olive oil, Iraq olive oil, Israel olive oil, Jordan olive oil, Kuwait olive oil, Lebanon olive oil, Palestine olive oil, Oman olive oil & Qatar olive oil.
Cyprus olive oil - Production, Exports, Imports, Seasons and HS Codes
The quantity of olive oil shipped by Cyprus in 2020 was 170 metric tons. In 2019 Cyprus exported 158 tonnes of olive oil. Across 2019 alone, the market for Cyprus olive oil (processed category) has improved, recording a change of 102.564 percent compared to the year 2018. Between 2017 and 2019, olive oil's exports went up by 22.48 pc earning the nation US$0.44m for the year 2019. Cyprus' olive oil exports are classified as:
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
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Cyprus olive oil export values
In 2019, Cyprus sold olive oil with a value of 0.44m USD, an increment of 60.00% from 2018's total olive oil export of 0.275m USD. The annual increase in value of Cyprus olive oil between 2017 to 2018 was -46.498 per cent.
The per year variation in the quantity of Cyprus' olive oil exports between 2017 and 2019 was 22.48 per cent compared to a variation of 102.564% in the period between 2018 and 2019.
Export markets for Cyprus olive oil ( in '000$ )
Cyprus' leading destinations for olive oil are China, Australia, Bangladesh, Russia and Kuwait.
Cyprus ordered 1,232 tonnes of olive oil in 2019.