MERCOSUR: Refined Olive Oil Market 2024

Refined Olive Oil Market Size in MERCOSUR

The MERCOSUR refined olive oil market declined modestly to $X in 2022, shrinking by X% against the previous year. In general, consumption showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refined Olive Oil Production in MERCOSUR

In value terms, refined olive oil production dropped slightly to $X in 2022 estimated in export price. Overall, production recorded a abrupt contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Refined Olive Oil Exports

Exports in MERCOSUR

In 2022, the amount of refined olive oil exported in MERCOSUR surged to X tons, picking up by X% compared with the year before. In general, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined olive oil exports skyrocketed to $X in 2022. Overall, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina was the key exporter of refined olive oil in MERCOSUR, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Chile (X tons), committing a X% share of total exports. Peru (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Peru (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Argentina ($X), Chile ($X) and Peru ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Refined Olive Oil Imports

Imports in MERCOSUR

In 2022, the amount of refined olive oil imported in MERCOSUR dropped to X tons, waning by X% against the year before. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined olive oil imports rose modestly to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Peru (X tons), constituting a X% share of total imports. Ecuador (X tons), Colombia (X tons) and Venezuela (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of refined olive oil. At the same time, Peru (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2022. By contrast, Colombia (X%) and Venezuela (X%) illustrated a downward trend over the same period. While the share of Peru (X p.p.) and Brazil (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported refined olive oil in MERCOSUR, comprising X% of total imports. The second position in the ranking was held by Ecuador ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

In Brazil, refined olive oil imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Peru (X% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform