Latin America and the Caribbean: Olive Market 2025

Olive Market Size in Latin America and the Caribbean

The Latin American olive market was estimated at $X in 2022, with an increase of 2% against the previous year. Over the period under review, consumption showed strong growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Olive Production in Latin America and the Caribbean

In value terms, olive production stood at $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The growth pace was the most rapid in 2014 when the production volume increased by 111% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Argentina (X tons) remains the largest olive producing country in Latin America and the Caribbean, comprising approx. 48% of total volume. Moreover, olive production in Argentina exceeded the figures recorded by the second-largest producer, Peru (X tons), twofold. The third position in this ranking was taken by Chile (X tons), with a 19% share.

In Argentina, olive production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Peru (+5.7% per year) and Chile (+5.9% per year).

In 2022, the average yield of olives in Latin America and the Caribbean reached X tons per ha, with an increase of 4.8% on 2021. The yield figure increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the yield increased by 18% against the previous year. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of olives production in Latin America and the Caribbean shrank to X ha, which is down by -4.4% against the year before. In general, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the harvested area increased by 41%. As a result, the harvested area reached the peak level of X ha. From 2018 to 2022, the growth of the olive harvested area remained at a somewhat lower figure.

Olive Exports

Exports in Latin America and the Caribbean

In 2022, exports of olives in Latin America and the Caribbean declined notably to X tons, reducing by -31.8% compared with 2021 figures. Overall, exports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2016 with an increase of 10,089%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, olive exports shrank rapidly to $X in 2022. In general, exports saw a sharp downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 8,136% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru represented the largest exporting country with an export of about X tons, which accounted for 81% of total exports. Guatemala (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (5.1%). Brazil (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to olive exports from Peru stood at -10.2%. At the same time, Brazil (+134.3%) and Colombia (+12.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +134.3% from 2012-2022. By contrast, Guatemala (-21.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Peru, Guatemala, Colombia and Brazil increased by +80, +9.7, +5.1 and +3.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest olive supplier in Latin America and the Caribbean, comprising 91% of total exports. The second position in the ranking was held by Brazil ($X), with a 2.7% share of total exports. It was followed by Guatemala, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value in Peru amounted to -10.2%. In the other countries, the average annual rates were as follows: Brazil (+102.7% per year) and Guatemala (-19.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, the export price posted a strong increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 223%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Olive Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of olives decreased by -8.4% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports saw a noticeable decline. The pace of growth appeared the most rapid in 2019 when imports increased by 63%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, olive imports declined significantly to $X in 2022. Overall, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2018 with an increase of 65% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of olive imports in 2022 were Colombia (X tons), Ecuador (X tons), Costa Rica (X tons), Venezuela (X tons) and Curacao (X tons), together recording 79% of total import. It was distantly followed by Cuba (X tons), creating a 5.5% share of total imports. The Dominican Republic (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +44.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Curacao ($X), Colombia ($X) and Costa Rica ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 61% share of total imports.

In terms of the main importing countries, Costa Rica, with a CAGR of +46.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, waning by -10.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 21% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Curacao ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cuba (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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