The African olive is estimated to register a CAGR of 5.5% over the forecast period. Morocco is the largest producer with 1.5 million in 2018, Tunisia, Egypt and Algeria are some of the other top olive production countries in Africa. Morocco is also one of the leading exporters of olives with an export value of USD 485000. Rise in the demand for olive oil, dietary benefits, and pharmaceutical uses are the prime drivers of the market whereas fluctuation of olive oil prices and adverse climatic conditions for olive production is the key restraints of the olive market.
Key Market Trends
Fluctuations in Olive Production
Olive production in Africa is observed to be fluctuating for the last few years. Production analysis indicated that the olive production was increasing and decreasing alternatively by 30 - 40% since 2016. Adverse climatic conditions and fluctuations in olive oil prices internationally are the main reasons for olive production fluctuation in Africa. In the Mediterranean region where major olive production countries of Africa lie, frequent weather shocks causes uncertainty for adequate olive cultivation and harvest.
Morocco Leads in the Olive Production
Morocco is the leading olive production country in Africa followed by Algeria, Tunisia, and Egypt. The main olive production regions in Morocco are Marrakesh, Casablanca, Meknes, and Fez. The adaptability of olive plants to all the agro-climatic zones of Morocco, government initiatives to increase olive production and demand for Moroccan olives in the international market are some of the prime reasons for high olive production in Africa. Morocco is also one of the leading olive exporters in the world.
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