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India, a potential market of 300 million consumers for Andalusian olive oil and olives

July 16, 2023
India, a potential market of 300 million consumers for Andalusian olive oil and olives

Andalucía TRADE has organised a total of 275 business meetings for five Andalusian agri-food companies with 55 Indian agents in a commercial meeting that took place in the cities of Delhi and Bombay, from 19 to 23 June. This action has aimed to promote the consumption of olives and olive oil in India, a market of opportunity, as it is the most populated country in the world and where there are already 300 million potential consumers belonging to the middle class with a growing purchasing power and increasingly healthy consumption habits.

India is currently the fourth-largest Asian destination for Andalusian liquid gold. Andalusia is the leading region in olive oil sales to Asia, with exports of 117 million euros in the first four months of 2023, accounting for 70% of national sales, well ahead of the second largest exporter, Catalonia, with 18.2% of the total. Against this backdrop, Andalucía TRADE reports reveal that olive oil is making inroads into the Indian market, exceeding 9.9 million euros in the first four months of 2023, an increase of 31%.

About the table olive sector, the Andalusian agency has also found a potential market in Asia, following the export figures for the first four months of 2023, which recorded sales worth 31 million euros, representing 88% of the national invoice to the continent.

This mission continues the market diversification strategy developed by the Agency for Economic Transformation and Development-Andalucía TRADE, which aims to boost sales of Andalusian olive oil beyond its natural markets, Europe and America, expanding especially to the two new major world markets, China and India. The agency reports that olive oil is considered a gourmet product in India, with a variety of options as yet unknown to buyers.

Andalusia is the leading region in olive oil exports to Asia in the first four months of 2023, with sales of 117 million euros, 70% of the national turnover. India, for its part, is the fastest growing of the top five Asian markets, with an increase of 31%, making it the fourth largest sales destination on the continent, with 9.9 million euros, 8.6% of the total.