Diabetes, Heart Diseases Boost Olive Oil Demands In India

New Delhi: India is emerging as one of the fastest growing markets for olive oil, largely due to rising cases of diabetes, hypertension and heart diseases.

Imports of olive oil in India surged by 66 percent to 11,916.76 tonnes in the financial year ended March 31, 2013, according to Indian Olive Association data.

"Main driving factor for olive oil demands in India is health-related problems like increasing cases of diabetes, hypertension and heart diseases," V N Dalmia, president of the Indian Olive Association, told IANS.

He said in 2012-13, growth in import of olive oil was the highest in India among the major economies, followed by Japan with 29 percent, China 17 percent and Brazil 16 percent.

Olive oil is considered good for health as it contains low saturated fat and high percentage of mono-unsaturated fat that help in reducing the risk of heart diseases, diabetes and hypertension. In addition, the high anti-oxidants in olive oil fight cancer and increase life expectancy.

Dalmia said rising purchasing power and growing awareness among common people have boosted demands for olive oil, mainly in urban areas.

Imports of olive oil have increased sharply in India in the past few years. It had jumped by 42 percent in 2011-12 and by 49 percent in the previous year.

Dalmia said imports surged by 66.36 percent in 2012-13 year-on-year, which is a record high.

Imports have jumped despite a sharp jump in prices. "Prices of olive oil have jumped by almost 40 percent in producing countries. It is now at a record high," said Dalmia, who is also chairman of Dalmia Continental, one of the biggest importers of olive oil in India.

Spain and Italy together supply over 90 percent of India's olive oil import. Of the total imports, 59.18 percent came from Spain in 2012-13, while 31.26 percent came from Italy.

According to the World Health Organisation (WHO), heart diseases would be the single largest killer in India by 2015.