MERCOSUR: Olive Oil Market 2025

Olive Oil Market Size in MERCOSUR

The MERCOSUR olive oil market shrank notably to $X in 2022, reducing by -54.5% against the previous year. Over the period under review, consumption saw a perceptible decrease. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Olive Oil Production in MERCOSUR

In value terms, olive oil production declined modestly to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.0% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 76%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Olive Oil Exports

Exports in MERCOSUR

Olive oil exports was estimated at X tons in 2022, picking up by 5.9% against the previous year. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.4% against 2017 indices. The growth pace was the most rapid in 2015 when exports increased by 107%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, olive oil exports expanded notably to $X in 2022. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 104%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Argentina (X tons) represented the largest exporter of olive oil and its fractions, making up 60% of total exports. Chile (X tons) took the second position in the ranking, distantly followed by Peru (X tons). All these countries together took approx. 38% share of total exports. Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Peru (with a CAGR of +30.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest olive oil supplying countries in MERCOSUR were Argentina ($X), Chile ($X) and Peru ($X), with a combined 99% share of total exports.

Peru, with a CAGR of +28.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 when the export price increased by 26% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Argentina ($X per ton) and Chile ($X per ton), while Peru ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Olive Oil Imports

Imports in MERCOSUR

In 2022, supplies from abroad of olive oil and its fractions decreased by -57.9% to X tons, falling for the second consecutive year after five years of growth. Overall, imports showed a perceptible curtailment. The growth pace was the most rapid in 2018 with an increase of 34%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, olive oil imports shrank notably to $X in 2022. Over the period under review, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2018 when imports increased by 31% against the previous year. The level of import peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

Brazil was the key importer of olive oil and its fractions in MERCOSUR, with the volume of imports resulting at X tons, which was near 53% of total imports in 2022. It was distantly followed by Colombia (X tons) and Argentina (X tons), together constituting a 33% share of total imports. Chile (X tons), Venezuela (X tons), Ecuador (X tons) and Peru (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to olive oil imports into Brazil stood at -9.2%. At the same time, Argentina (+51.0%), Peru (+14.1%), Colombia (+11.9%), Chile (+9.2%) and Ecuador (+8.9%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +51.0% from 2012-2022. By contrast, Venezuela (-12.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia, Argentina, Chile, Ecuador and Peru increased by +20, +8.3, +2.9, +2.1 and +1.6 percentage points, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported olive oil and its fractions in MERCOSUR, comprising 60% of total imports. The second position in the ranking was taken by Colombia ($X), with a 20% share of total imports. It was followed by Argentina, with a 7.4% share.

In Brazil, olive oil imports contracted by an average annual rate of -7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (+12.1% per year) and Argentina (+48.7% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, leveling off at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform