Spanish olive oil holds US market share despite Trump tariffs

Spanish olive oil exporters have held their position in the United States despite tariffs of 10% to 15% imposed on European products by the administration of Donald Trump, and repeated threats by the US president of a trade embargo against Spain. According to a report published by ABC citing official data, sales in North American territory fell only 3% in volume.

US sales barely dented

The Spanish olive oil sector, led by Andalusia, sold 77,099 tonnes in the United States, equal to 13% of all oil exported. The tariffs on European goods have ranged from 10% to 15% since the EU trade agreement took effect on 1 July. The Observatorio de Precios y Mercados of the regional government confirmed that international markets continue to demand Andalusian oil, but at lower prices than the record quotations set in previous campaigns.

Overall exports remain strong. According to the latest official figures from the Ministry of Agriculture, Fisheries and Food (MAPA), based on Eurostat statistics accumulated to April of the 2025-26 campaign, foreign sales reached 574,677 tonnes. That represents a 2% increase over the same period of the previous campaign and 11.7% growth against the average of the four preceding campaigns.

EU still dominates, Italy leads

The European Union remains the primary destination, absorbing 60% of total export volume at 342,377 tonnes, stable with 0% year-on-year variation. Third countries, led by the United States, account for the remaining 40%, or 232,299 tonnes.

• Italy is the main buyer with a 32% share and 181,061 tonnes, down 4% on the year.
• Portugal took 56,945 tonnes, buying mainly bulk oil to package and redistribute to other markets.
• France increased purchases 7% to more than 50,500 tonnes.
• The United Kingdom held steady at just over 23,620 tonnes.

Asia and Latin America offset the pressure

The alternative markets targeted by Andalusian producers after the tariff tensions with the United States are starting to deliver, with double-digit volume gains that offset the slight decline in traditional markets. China posted the largest increase, with Spanish olive oil exports rising 42% year on year to 16,065 tonnes and a 3% share of the global total.

According to Icex, olive oil holds a market share of only 3% in China, leaving substantial room for growth in a market of more than 1.4 billion people, where the product is positioned around health and the upper-middle class. A recent campaign by the Interprofesional del Aceite de Oliva has focused on maintaining Spanish leadership in China after two years of uncertainty tied to low production. South Korea also raised its purchases of Spanish olive oil by 29%.

Mexico consolidated as a stable market, with a 34% rise to 11,468 tonnes in the 2025-26 campaign. The negative note came from Australia, whose imports from Spain fell sharply by 21%, cutting volume to 10,665 tonnes.