Andalusia TRADE promotes Andalusian olives and olive oil before 55 Indian agents in a commercial meeting

A market of opportunity

Currently, India is the fourth Asian destination for Andalusian liquid gold. Andalusia is the leading community in sales of olive oil to Asia, with exports of 117 million euros in the first four months of 2023.

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Andalucía TRADE has organized a total of 275 business meetings for five Andalusian agri-food firms with 55 Indian agents in a commercial meeting that took place in the cities of Delhi and Bombay, from June 19 to 23. The objective of this action has been to promote the consumption of olives and olive oil in India, a market of opportunity, since 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 increasing purchasing power and increasingly healthy consumer habits.

Currently, India is the fourth Asian destination for Andalusian liquid gold. Andalusia is the leading community in sales of olive oil to Asia, with exports of 117 million euros in the first four months of 2023, which represent 70% of national sales, far ahead of the second largest exporter, Catalonia, with 18,2% of the total. With this context, Andalucía TRADE reports reveal that olive oil is being introduced into the Indian market, and exceeds 2023 million euros in the first quarter of 9,9, with an advance of 31%. 

Regarding the table olive sector, the Andalusian agency also finds in Asia a potential market, after the export data for the first four months of 2023, which record sales worth 31 million euros, which represents 88% of the national invoice to the continent.

With this mission, the market diversification strategy developed by the Agency for the Transformation and Economic Development-Andalusia TRADE, which aims to boost sales of Andalusian olive oil beyond its natural markets, Europe and America, especially expanding to the two new large world markets, China and India. The agency's reports highlight that olive oil is considered a gourmet product in India, with a variety of options still unknown to buyers.

These qualities make olive oil a unique complement that is increasingly valued in the market, also for its healthy properties, which is why, despite the differences between Indian and Andalusian gastronomy, it has been detected that Indian consumers are willing to explore this new beneficial ingredient for health. This trend in consumption habits provides an excellent opportunity to promote Andalusian olive oil in a country with 1.400 billion inhabitants.

 

 

Regarding table olive sales in the first four months of 2023, Andalusia sells practically nine out of every ten euros that Spain exports to Asia, with 31 million euros, that is, 88% of national sales

 

 

India has seen a notable increase in the consumption of processed and healthy foods in recent years, both through traditional distribution channels and online commerce. This phenomenon is largely due to the rapid digitalization that is taking place in the country, which has driven the growth of the E-commerce. It is also projected that ecommerce in India will grow between 25% and 30% annually until 2026.

This action, which has traditionally been linked exclusively to the olive oil industry, has also been expanded this year to the table olive sector, to boost its consumption in the Indian market. In the case of the table olive, although it is not a common food in the Indian diet today, the product fits perfectly into its gastronomy. This fact joins the growing trend of acquiring imported products from countries that, like Spain, are a reference in food. Furthermore, the high nutritional value of table olives together with their versatility in the kitchen makes the product an easy food to incorporate into all types of dishes.

Almost 300 meetings and a showcooking

The five Andalusian companies participating in the meeting began their professional agenda by interviewing 35 local importers in Delhi., with the aim of exchanging commercial synergies in this expanding market through a total of 175 meetings. After the action, local importing firms were able to taste six tapas, with four Indian and two Andalusian appetizers in a showcooking. The agenda continued with another hundred B2B with 20 importers in Bombay. 

The participating companies come from Seville (Ybarra and Oleoestepa Group), Cordoba (Anfora Quality Products and Almazaras de la Subbética) and Jaen (Acesur) are all marketers of extra virgin olive oil and its varieties, and table olives. The organization of this action by Extenda will be co-financed with funds from the European Union through the FEDER OP of Andalusia 2014-2020, endowed with a community contribution of 80%, or any other European Program that may co-finance this action.

Andalusia, olive oil leader in Asia

Andalusia is the leading community in olive oil exports to Asia in the first four months of 2023, with sales of 117 million euros, 70% of the national invoice. For its part, India is the market that is growing the most of the top five Asian markets, with an increase of 31%, which places it as the fourth sales destination on the continent, with 9,9 million euros, 8,6% of the total. 

Japan It is the first market with 35 million, 29,7% of total national sales, and a growth of 21,1% year-on-year, the third best increase in the Top10. In second place, China, with 13,2 million, 11,4% of the total, despite a decrease of 45%; followed by Saudi Arabia, with 12,2 million, 10,5% of the total, and an increase of 14%.

Regarding the provinces, Seville It is the leading province in exports in Asia during the first four months of 2023, with a bill that reaches 73 million euros, and concentrates 63% of sales in all of Andalusia, despite a decrease of 3,7%. In second place, Córdoba with 18,7 million and a drop of 31%; followed by Málaga, with 12,7 million, and a decrease of 4,4%.

In fourth place is Jaén, with 7,2 million and an increase of 18,8%; Granada follows with 4,6 million and a decrease of 25,9%; Almería with 53.000 euros and the best increase in the provinces, thanks to an increase of 99%; and, finally, Cádiz with 22.000 euros and a decrease of 96% year-on-year.