Vegetable oils: oils and their fractions n.e.s. in chapter 15, obtained solely from olives, whether or not refined, but not chemically modified, including blends of these oils or fractions with oils or fractions of heading no. 1509

In 2024, vegetable oils: oils and their fractions n.e.s. in chapter 15, obtained solely from olives, whether or not refined, but not chemically modified, including blends of these oils or fractions with oils or fractions of heading no. 1509 trade exhibited strong growth, with global flows reaching $909,245,528 and a three-year compound annual growth rate of +24.7% (five-year: +20.3%). The all-time peak of $909,245,528 was recorded in 2024.

Over the 30-year observation window (1995–2024), 66% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+15.3% acceleration).

The World Trade Flows Characterization classifies vegetable oils: oils and their fractions n.e.s. in chapter 15, obtained solely from olives, whether or not refined, but not chemically modified, including blends of these oils or fractions with oils or fractions of heading no. 1509 as "Two-way vertical trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.296). The three largest exporters — Spain ($453.0M), Italy ($153.8M), and Greece ($87.1M) — collectively dominate supply flows. The leading exporter has grown at +26.7% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.084). The three largest import markets are Spain ($189.9M), Italy ($117.2M), and United States ($108.8M). The largest importing market sources from 22 different supplying countries.

Estimated substitution elasticity: -0.10. Buyers tend to remain with established suppliers even when price differences exist.

The dominant trade corridor is Spain → Italy at $77.1M, representing 65.7% of the importer's total demand.

The volatility score for vegetable oils: oils and their fractions n.e.s. in chapter 15, obtained solely from olives, whether or not refined, but not chemically modified, including blends of these oils or fractions with oils or fractions of heading no. 1509 is 15 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.