As for the quality of olive oil consumed in Slovakia (2,047 tons in 2014), the majority is virgin (66%). However, as ICEX highlighted in its report, the price differences compared to other substitutes makes EVOO not as widely consumed and is perceived as a luxury product reserved for the upper middle class, concerned about their health or those who reserve it for special occasions.
Furthermore, in Slovakia rapeseed and sunflower oils are produced. In fact, in 2013, of the 254,000 hectares that were used for harvesting plants designed to produce vegetable oil, 83,000 hectares were cultivated of sunflowers and 137,000 of rapeseed.
Therefore, the main competitor of Spanish olive oil is not the same product but from different sources, but the sunflower or rapeseed oil, most consumed among Slovaks. Moreover, in 2014, only 0.74% of fats and oils was imported were olive oil.
Little-known brand image
Furthermore, the analysis draws attention to the fact that Spain has no well-known brand image among Slovak consumers, its oil is consumed “simply because it is olive, not because of its Spanish origin.” In fact, the Italian product, even having lower sales, is better known than the Spanish.
The Spanish olive oil brand with more presence in the Slovak market is Borges, although there are more.
Thus, the report concludes that “it appears that there is room for an interesting growth in this sector in Slovakia.”
Article sourceReport about of the olive oil market in Slovakia,