Preserved olives market in Latin America and the Caribbean

Earlier Report Observations

The market volume for preserved olives in Latin America and the Caribbean exhibited significant fluctuations from 2018 to 2023. After starting at 231.8 thousand tons in 2018, it dropped sharply to 148.9 thousand tons in 2019. A partial recovery to 163.8 thousand tons occurred in 2020, followed by a strong surge to 262.0 thousand tons in 2021. The market then contracted over the next two years, falling to 182.3 thousand tons in 2022 and further to 122.6 thousand tons in 2023.

In 2024, the regional landscape was influenced by growing imports in key markets like Brazil and Mexico, reinforcing the area's role as an emerging destination. Adverse weather in major global producing regions, such as droughts in Spain, affected worldwide supply. Simultaneously, rising global consumption and a shift in consumer preference towards healthy, natural products continued to support demand for preserved olives.

Production preserved olives in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of preserved olives, 2017-2020

World map of production of preserved olives, 2017-2020

Latin America and the Caribbean saw a decline in preserved olive production for the second year in a row. In 2020, the region produced 235.5 thousand tonnes, down 7.4% from 2019. Over the 2017-2020 period, production grew by 45.3%, with an average annual growth rate of 13.3%. The peak was reached in 2018 at 259.2 thousand tonnes, which marked the largest annual increase of 60.0%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The market for preserved olives in Latin America and the Caribbean experienced significant fluctuations during this period. The highest value was recorded in 2018 at 594.5 million US dollars, while the lowest was in 2017, showing a 1.8-fold difference between these extremes. In 2020, output was valued at 517.1 million US dollars, a slight decrease of 1.4% compared to 2019. The largest decline occurred in 2019 at 11.7%, while the biggest increase was in 2018 at 80.1%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports preserved olives from Latin America and the Caribbean

Exports in kind, K t

In 2020, preserved olive exports from Latin America and the Caribbean totaled 219.1 thousand tonnes, reflecting an 8.1% year-over-year decline. Over the 2017-2020 period, exports increased by 4%, with an average annual growth rate of 1.3%. The lowest volume was recorded in 2018 at 165.5 thousand tonnes, which saw the largest decline of 21.5%. The peak was in 2019 at 238.5 thousand tonnes, marking the largest increase of 44.1%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States was the primary destination for preserved olive exports from Latin America and the Caribbean, accounting for 52.7% of exports in volume. Spain followed with 2.9%, and Germany with 2.8%. Together, these three countries represented 58.4% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

In 2020, preserved olive exports from Latin America and the Caribbean were valued at 481.2 million US dollars, a 2.1% decrease from 2019. Between 2017 and 2020, exports grew by 12.1%, equating to an average annual rate of 3.9%. The lowest value was recorded in 2018 at 379.4 million US dollars, which saw the largest decline of 11.6%. The highest value was in 2019 at 491.8 million US dollars, marking the largest increase of 29.6%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the United States remained the leading destination for preserved olive exports in value terms, accounting for 62.0% of total exports. Germany followed with 3.1%, and Spain with 2.6%. Combined, these three countries represented 67.7% of total export value.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports preserved olives to Latin America and the Caribbean

Imports in kind, K t

After two years of decline, preserved olive imports into Latin America and the Caribbean increased in 2020. The region imported 147.4 thousand tonnes, up 10.9% from 2019. Over the 2017-2020 period, imports grew by 2.7%, with an average annual rate of 0.9%. The lowest volume was recorded in 2019 at 133.0 thousand tonnes, while the largest decline occurred in 2018 at 3.9%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, Spain was the largest supplier of preserved olives to Latin America and the Caribbean, accounting for 16.0% of imports in volume. Egypt followed with 14.2%, and the United States with 6.0%. Together, these three countries contributed 36.2% of total imports, reflecting a diversified supplier structure.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Preserved olive imports into Latin America and the Caribbean increased for the third consecutive year in 2020, reaching 267.2 million US dollars, a slight rise of 1.6% year-over-year. Between 2017 and 2020, imports grew by 7.9%, equating to an average annual rate of 2.6%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, preserved olives were imported into Latin America and the Caribbean from a wide range of markets. Spain led with 23.7% of imports in value, followed by the United States at 11.3%, and Egypt at 8.5%. Together, these three countries accounted for 43.5% of total import value, with many smaller destinations making up the remaining 56.5%.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020