What is the price of olive oil per kilogram/pound in Saudi Arabia today?
The retail price range for Saudi Arabia olive oil is between US$ 3.80 and US$ 5.93 per kilogram or between US$ 1.73 and US$ 2.69 per pound(lb). Click here to see today's exact prices of olive oil in Saudi Arabia
The retail price range in Saudi Riyal for olive oil is between SAR 14.26 and SAR 22.23 per kilogram or between SAR 6.47 and SAR 10.08 per pound(lb) in Riyadh and Jeddah.
Wholesale prices
In 2024, the approximate wholesale price range for Saudi Arabia olive oil is between US$ 2.66 and US$ 4.15 per kilogram or between US$ 1.21 and US$ 1.88 per pound(lb).
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Saudi Arabia Olive Oil Export Prices - Historical, Trends and Prediction
In the years 2016, 2017, 2018, 2019 and 2020, the export price of Olive Oil from Saudi Arabia per Kg was US$ 0.39, US$ 0.45, US$ 0.32, US$ 0.26 and US$ 0.05 respectively. For the year 2021, the export price was US$ 0.80 per Kg. For the year 2023, the export price is predicted to be US$ 0.81 per Kg.The olive oil exports from Saudi Arabia are categorised 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)
Saudi Arabia Olive Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Olive Oil into Saudi Arabia has seen a steady increase over the last five years. In 2016, the price was 2.55 US dollars per kg, and by 2021, it had risen to 2.65 US dollars per kg. This represents an increase of 3.5% over the five-year period. The highest price was recorded in 2019, when it reached 6.14 US dollars per kg. This was followed by a sharp decline in 2020, when the price dropped to 3.05 US dollars per kg. However, the price has since recovered and is currently at 2.65 US dollars per kg. Based on this trend, it is likely that the price of Olive Oil will continue to increase in the coming years, with an estimated price of 3.10 US dollars per kg in 2023 and 3.55 US dollars per kg in 2024.Export values for Saudi Arabia olive oil
The total values in export for olive oil in Saudi Arabia were US$ 1,510, US$ 1,893, US$ 1,535 and US$ 1,542 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Saudi Arabia: 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.
Saudi Arabia olive oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Saudi Arabia sold 251 tonnes of olive oil. In 2019 alone, the demand for Saudi Arabia olive oil (processed category) has gone down, with a change of -35.641 % compared to the year 2018. Between 2017 and 2019, olive oil's exports reduced by -57.39% earning the nation US$1.54m for the year 2019. Saudi Arabia's olive oil exports are categorised as:
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
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Saudi Arabia olive oil export values
In 2019, Saudi Arabia exported olive oil costing 1.54m USD, an improvement of 0.33% from 2018's total olive oil export of 1.535m USD. The yearly change in value of Saudi Arabia olive oil between 2017 to 2018 was -18.912 pc.
The per year change in the volume of Saudi Arabia's olive oil exports between 2017 and 2019 was -57.39 percent compared to a variation of -35.641% in the period between 2018 and 2019.
Saudi Arabia's stake of the world's total olive oil's exports in 2019 was less than 1%. The country is ranked number 48 in world exports of olive oil.
Export markets for Saudi Arabia olive oil ( in '000$ )
Saudi Arabia's best performing destinations for olive oil are Kuwait, United Arab Emirates (UAE), Bahrain, Oman and Lebanon.
Import/Export Trends
Saudi Arabia is a net importer of olive oil. The annual growth of Saudi Arabia olive oil in value between 2015 to 2019 was 339%, per year, while annual growth in quantity during the same period was 104%, per annum.
Saudi Arabia procured 35,615 tonnes of olive oil in 2019.