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Latin America and the Caribbean - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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Latin America and the Caribbean: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in Latin America and the Caribbean

After three years of growth, the Latin American virgin olive oil market decreased by -X% to $X in 2019. Overall, consumption continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when the market value increased by X% year-to-year. The level of consumption peaked at $X in 2018, and then shrank in the following year.

Virgin Olive Oil Production in Latin America and the Caribbean

In value terms, virgin olive oil production shrank markedly to $X in 2019 estimated in export prices. In general, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. As a result, production reached the peak level of $X. From 2018 to 2019, production growth remained at a somewhat lower figure.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of virgin olive oil production in 2019 were Argentina (X tonnes), Chile (X tonnes) and Peru (X tonnes), with a combined X% share of total production.

From 2007 to 2019, the most notable rate of growth in terms of virgin olive oil production, amongst the key producing countries, was attained by Chile, while virgin olive oil production for the other leaders experienced more modest paces of growth.

Virgin Olive Oil Exports

Exports in Latin America and the Caribbean

In 2019, overseas shipments of virgin olive oil decreased by -X% to X tonnes for the first time since 2016, thus ending a two-year rising trend. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% y-o-y. As a result, exports attained the peak of X tonnes. From 2016 to 2019, the growth exports failed to regain the momentum.

In value terms, virgin olive oil exports shrank markedly to $X in 2019. Over the period under review, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. From 2016 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

In 2019, Argentina (X tonnes) was the largest exporter of virgin olive oil, mixing up X% of total exports. It was distantly followed by Chile (X tonnes) and Peru (X tonnes), together generating a X% share of total exports.

Exports from Argentina increased at an average annual rate of +X% from 2007 to 2019. At the same time, Peru (+X%) and Chile (+X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2019. While the share of Chile (+X p.p.) and Peru (+X p.p.) increased significantly in terms of the total exports from 2007-2019, the share of Argentina (-X p.p.) displayed negative dynamics.

In value terms, the largest virgin olive oil supplying countries in Latin America and the Caribbean were Argentina ($X), Chile ($X) and Peru ($X), together accounting for X% of total exports.

Among the main exporting countries, Chile saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The virgin olive oil export price in Latin America and the Caribbean stood at $X per tonne in 2019, waning by -X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 an increase of X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2009 to 2019, the growth in terms of the export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was Chile ($X per tonne), while Peru ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Chile, while the other leaders experienced a decline in the export price figures.

Virgin Olive Oil Imports

Imports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in supplies from abroad of virgin olive oil, which increased by X% to X tonnes in 2019. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% year-to-year. The volume of import peaked in 2019 and is likely to see steady growth in the near future.

In value terms, virgin olive oil imports declined to $X in 2019. In general, imports saw strong growth. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018, and then declined in the following year.

Imports by Country

Brazil was the key importer of virgin olive oil in Latin America and the Caribbean, with the volume of imports reaching X tonnes, which was approx. X% of total imports in 2019. It was distantly followed by Mexico (X tonnes), generating an X% share of total imports. Colombia (X tonnes) and the Dominican Republic (X tonnes) occupied a relatively small share of total imports.

From 2007 to 2019, average annual rates of growth with regard to virgin olive oil imports into Brazil stood at +X%. At the same time, the Dominican Republic (+X%), Colombia (+X%) and Mexico (+X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2019. While the share of Brazil (+X p.p.) increased significantly in terms of the total imports from 2007-2019, the share of Mexico (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported virgin olive oil in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

In Brazil, virgin olive oil imports increased at an average annual rate of +X% over the period from 2007-2019. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Colombia (+X% per year).

Import Prices by Country

The virgin olive oil import price in Latin America and the Caribbean stood at $X per tonne in 2019, falling by -X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X% year-to-year. Over the period under review, import prices hit record highs at $X per tonne in 2018, and then contracted rapidly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2019, major importing countries recorded the following prices: in Mexico ($X per tonne) and the Dominican Republic ($X per tonne), while Colombia ($X per tonne) and Brazil ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Colombia, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in LatAmerica and the Caribbean?
+
The country with the largest volume of virgin olive oil consumption was Brazil (78K tonnes), accounting for 61% of total volume. Moreover, virgin olive oil consumption in Brazil exceeded the figures recorded by the second-largest consumer, Chile (14K tonnes), fivefold. The third position in this ranking was occupied by Mexico (11K tonnes), with a 8.8% share.
What are the largest producers of virgin olive oil in LatAmerica and the Caribbean?
+
The countries with the highest volumes of virgin olive oil production in 2019 were Argentina (28K tonnes), Chile (23K tonnes) and Peru (2.7K tonnes), together accounting for 96% of total production.
What are the leading exporters of virgin olive oil in LatAmerica and the Caribbean?
+
In value terms, Argentina ($66M), Chile ($50M) and Peru ($5.9M) were the countries with the highest levels of exports in 2019, with a combined 98% share of total exports.
What are the leading importers of virgin olive oil in LatAmerica and the Caribbean?
+
In value terms, Brazil ($355M) constitutes the largest market for imported virgin olive oil in Latin America and the Caribbean, comprising 74% of total imports. The second position in the ranking was occupied by Mexico ($53M), with a 11% share of total imports. It was followed by Colombia, with a 3.8% share.
What is the average export price for virgin olive oil in LatAmerica and the Caribbean?
+
In 2019, the virgin olive oil export price in Latin America and the Caribbean amounted to $3,561 per tonne, with a decrease of -15.9% against the previous year.
What is the average import price for virgin olive oil in LatAmerica and the Caribbean?
+
The virgin olive oil import price in Latin America and the Caribbean stood at $4,493 per tonne in 2019, declining by -20.6% against the previous year.

Product coverage:
• FCL 261 - Oil of Olives, Virgin

This report provides an in-depth analysis of the virgin olive oil market in Latin America and the Caribbean. 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 2025.


Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bermuda
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• Dominica
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bermuda
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2015–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

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