U.S. - Refined Olive Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Olive Oil Price in United States Peaks at $5,034 per Ton
U.S. Refined Olive Oil Import Price in March 2023
In March 2023, the refined olive oil price stood at $5,034 per ton (CIF, US), surging by 3% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +2.2%. The pace of growth was the most pronounced in December 2022 an increase of 13% against the previous month. The import price peaked in March 2023.
Average prices varied somewhat amongst the major supplying countries. In March 2023, the highest price was recorded for prices from Italy ($5,703 per ton) and Spain ($4,911 per ton), while the price for Greece ($4,282 per ton) and Tunisia ($4,702 per ton) were amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Greece (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Refined Olive Oil in U.S. (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| Italy | 4,219 | 4,253 | 4,306 | 4,522 | 4,457 | 4,614 | 4,280 | 4,533 | 4,447 | 4,723 | 5,044 | 5,442 | 5,703 |
| Spain | 3,757 | 3,686 | 3,659 | 4,194 | 3,825 | 3,839 | 3,943 | 3,995 | 4,025 | 4,424 | 4,589 | 5,402 | 4,911 |
| Turkey | 3,581 | 3,701 | 3,922 | 3,284 | 3,093 | 3,274 | 3,766 | 3,267 | 3,740 | 5,438 | 4,060 | 4,150 | 4,707 |
| Tunisia | 4,117 | 3,541 | 3,842 | 4,169 | 3,859 | 3,737 | 4,055 | 3,895 | 4,029 | 4,066 | 3,969 | 4,037 | 4,702 |
| Greece | 3,067 | 2,213 | 4,168 | 3,207 | 3,412 | 3,016 | 2,924 | 4,277 | 4,283 | 3,913 | 6,422 | 4,511 | 4,282 |
| Average | 3,899 | 3,885 | 3,802 | 4,132 | 3,908 | 3,900 | 4,103 | 3,977 | 4,046 | 4,589 | 4,392 | 4,888 | 5,034 |
U.S. Refined Olive Oil Imports
In March 2023, the amount of refined olive oil imported into the United States rose markedly to 9.4K tons, with an increase of 13% against February 2023 figures. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when imports increased by 87% month-to-month.
In value terms, refined olive oil imports skyrocketed to $47M (IndexBox estimates) in March 2023. Over the period under review, total imports indicated a pronounced increase from March 2022 to March 2023: its value increased at an average monthly rate of +2.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, imports increased by +89.6% against December 2022 indices. The most prominent rate of growth was recorded in October 2022 when imports increased by 82% against the previous month.
U.S. Refined Olive Oil Imports by Country
Spain (4.3K tons), Turkey (2.5K tons) and Italy (1.5K tons) were the main suppliers of refined olive oil imports to the United States, with a combined 88% share of total imports.
From March 2022 to March 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest refined olive oil suppliers to the United States were Spain ($21M), Turkey ($12M) and Italy ($8.5M), with a combined 88% share of total imports.
Turkey, with a CAGR of +14.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the refined olive oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415310 - Refined olive oil and its fractions (excluding chemically modified)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
