Olives and Olive oil are now fashionable. European food is popular around the world and is being consumed by the middle and wealth classes in India. While imports of olive oil are still small but it is growing rapidly.
Current status of Olive Oil in India
Currently, in the Indian oil market, besides soybean oil, mustard oil, sunflower oil, peanut oil, and vegetable oil, some special types and health functional edible oil flood in Indian market, especially Olive Oil become more and more popular. nevertheless the consumption of olive oil is marginal in India.
The main reasons for this situation are as follows:
In India olive oil relies on import. Costs are very high and the retail price is 5 times higher than costs of other edible oil.
Indian consumers are not familiar with olive oil and there is a lack of awareness and knowledge of olive oil among consumers at the moment.
Most consumers begin to pay more attention to the health and nutrition of food but are not able to distinguish the quality of different olive oil. Analysis are Olive oil consumption is expected to increased to 5 times by next 3 years .