“Depreciation of the rupee has slowed down the category growth last year, but we feel the Indian market has a huge long-term potential and should bounce back this year. We have great expectations from this market, and we have seen similar growths in China, where the category has now crossed 50,000 tonnes and is still growing. We strongly believe that India will get there in the next few years,” added Lapuente.
According to data available with ASOLIVA, last year the olive oil category crossed 11,000 tonnes in terms of total exports to India. Spain contributed 62 per cent to the 11,000 tonnes. Overall, Spain and Italy corner 90 per cent exports to India.
Spain is the world’s largest producer of olive oil and contributes about 50 per cent of the world’s production.
Source Business LineSpanish olive oil industry investment of €5 million in India & South East Asia,