Peru: Preserved Olive Market 2024

Preserved Olive Market Size in Peru

After three years of decline, the Peruvian preserved olive market increased by 7.7% to $X in 2021. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Preserved Olive Production in Peru

In value terms, preserved olive production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 25%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Olive Exports

Exports from Peru

After three years of growth, overseas shipments of olives prepared or preserved decreased by -6.2% to X tons in 2021. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 103%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, preserved olive exports reduced to $X in 2021. Overall, total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 64%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for preserved olive exports from Peru, with a 65% share of total exports. Moreover, preserved olive exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+21.7% per year) and the United States (+13.1% per year).

In value terms, Brazil ($X) remains the key foreign market for olives prepared or preserved exports from Peru, comprising 60% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by Chile, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.2% per year) and Chile (+18.6% per year).

Export Prices by Country

The average preserved olive export price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the export price, however, saw a pronounced contraction. The pace of growth appeared the most rapid in 2013 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (-2.5%), while the prices for the other major destinations experienced a decline.

Preserved Olive Imports

Imports into Peru

Preserved olive imports into Peru was estimated at X tons in 2021, growing by 9% against the previous year. In general, imports saw a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 513% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved olive imports dropped to $X in 2021. Over the period under review, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 299% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Spain (X tons) was the main preserved olive supplier to Peru, accounting for a 92% share of total imports. Moreover, preserved olive imports from Spain exceeded the figures recorded by the second-largest supplier, Greece (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +60.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+2.4% per year) and Argentina (-21.2% per year).

In value terms, Spain ($X) constituted the largest supplier of olives prepared or preserved to Peru, comprising 88% of total imports. The second position in the ranking was held by Greece ($X), with a 6.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +44.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-0.3% per year) and Argentina (-24.0% per year).

Import Prices by Country

In 2021, the average preserved olive import price amounted to $X per ton, dropping by -16.8% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 41%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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