Australia: A Growing Market for Greek Olive Oil Exports

Australia’s olive oil market is booming, offering significant opportunities for Greek exporters as demand surges and local production falls short, according to a study by the Economic and Commercial Affairs Office of the Greek Consulate in Sydney.

Domestic production, primarily high-quality extra virgin olive oil from Victoria, South Australia, and Western Australia, ranges between 20,000 and 25,000 tonnes annually, with much of it exported. Valued at AUD 475 million in 2023, the market is expected to grow at 5.2% annually through 2028.

Olive oil is a staple in two-thirds of Australian households, fueled by its perceived health benefits and appeal to gourmet cooks, health-conscious consumers, and tradition-focused buyers. Prices for 500 ml bottles of extra virgin olive oil range from AUD 9 to 16.

Over 95% of olive oil imports come from the EU, with Spain leading, followed by Italy and Greece. Greek olive oil, though holding a smaller share, benefits from a strong reputation, particularly among Australia’s large Greek diaspora and fans of Mediterranean cuisine.

Specialist importers, Greek restaurants, and delicatessens in cities like Melbourne and Sydney drive distribution. Greek olive oil, alongside olives and wine, is gaining traction, boosted by the Mediterranean diet’s popularity and zero import duties on olive oil.

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