Olives market in Peru

Earlier Report Observations

From 2018 to 2019, Peru's market for fresh or chilled olives saw a moderate volume increase from 188.8 thousand tons to 190.9 thousand tons, while its value rose more sharply from $457.3 million to $570.3 million. The COVID-19 pandemic then disrupted global supply chains and demand in 2020, leading production to fall to 174.3 thousand tons and market value to $438.0 million. The decline continued into 2021, with market volume dropping to 147.0 thousand tons and value to $324.4 million, a year when the Ministry of Agrarian Development and Irrigation established a National Olive Day to bolster sector support.

A strong rebound occurred in 2022, with the market reaching 226.9 thousand tons in volume and $538.0 million in value. This surge was driven by export opportunities: global logistical hurdles and low prices in Chile enabled Peruvian exporters to shift shipments to more lucrative markets like Brazil and the United States. However, 2023 brought a renewed contraction to 177.8 thousand tons and $459.1 million, as supply shortages and rising international prices curbed export volumes.

Throughout the period, the sector featured leading firms such as Nobex Agroindustrial and Fundo La Noria, and a diverse product range including green olives with almonds and Greek-style olives. By the first nine months of 2024, exports of fresh or chilled olives had grown 44.28% in value, reflecting ongoing promotion by the Ministry of Agrarian Development and Irrigation.

Production olives in Peru

In kind, 2017-2020, K t

From 2017 to 2020, Peru ranked as the 15th largest producer of olives globally.

Top producers of olives, 2017-2020

World map of production of olives, 2017-2020

The olive market in Peru exhibited significant volatility during this period. Production peaked in 2019 at 191.0 thousand tons, then declined to 174.3 thousand tons in 2020, marking an 8.7% year-over-year decrease. The lowest production level was recorded in 2017, creating a 2.4-fold difference between the peak and trough. The most substantial growth occurred in 2018, with production increasing by 135.2%.

Annual dynamics of production in Peru in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of Peru's olive production also showed considerable fluctuations. The market reached its highest point in 2019 at 570.5 million US dollars, then dropped to 438.1 million US dollars in 2020, representing a 23.2% decrease compared to the previous year. The lowest value was recorded in 2017, resulting in a 2.9-fold variation between the peak and trough. The most significant increase took place in 2018, with value rising by 135.4%.

Annual dynamics of production in Peru in value, 2017-2020, M $ US

Exports olives from Peru

Exports in kind, t

Peru's olive export volumes experienced notable volatility. Exports reached their highest level in 2018 at 164.8 tons, then fell to their lowest point in 2020 at 21.5 tons, creating a 7.6-fold difference between these years. In 2020, exports decreased by 61.6% compared to 2019. The most substantial decline occurred in 2019, dropping by 66.0%, while the largest increase was recorded in 2018, surging by 450.9%.

Annual dynamics of product's exports from Peru in kind, 2017-2020, t

From 2017 to 2020, Peru's olive exports in volume were primarily directed to three key markets: Ecuador accounted for 38.2% of exports, the United States represented 35.7%, and Brazil made up 16.2%. Together, these three countries constituted 90.1% of Peru's total olive export volume during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Peru in kind, 2017-2020

Exports in value, K $ US

The value of Peru's olive exports displayed considerable volatility. Export values peaked in 2018 at 399.1 thousand US dollars, then dropped to their lowest point in 2020 at 54.2 thousand US dollars, representing a 7.4-fold difference between these years. In 2020, export value declined sharply by 67.7% compared to the previous year. The most significant increase occurred in 2018, rising by 451.3%.

Annual dynamics of product's exports from Peru in value, 2017-2020, K $ US

During the 2017-2020 period, the United States and Ecuador dominated Peru's olive exports in value terms, together accounting for 80.9% of total export value. The remaining share was distributed among various other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Peru in value, 2017-2020

Imports olives to Peru

Market research data indicates that Peru did not import any olives between 2017 and 2020.