Olive oil imports into the United States bounced back from April to June, finally tipping the world’s biggest market back into growth – of four percent – over last season.
New figures from the International Olive Council (IOC) also show that shipments are up 19 percent in Canada and 5 percent in Japan, but the news is not as good in other major markets: Imports are down 18 percent in China, 3 percent in Brazil and 3 percent in Australia.
The IOC data covers olive oil and olive pomace oil imports for October 2013 to June 2014, the first nine months of the 2013/14 crop year, and were published in its latest newsletter.
Data for Russia was available only until April, 2014 but showed an 8 percent gain compared to imports over the same seven months last season. Similarly, EU data was available to May only, but intra-EU acquisitions were up 12 percent on the same period a year ago, however, imports from outside the EU were down more than half, a fall the IOC said seemed logical, “given Spain’s high production.”
China and Korea
The IOC said Chinese imports of olive oil and olive pomace grew exponentially in the decade or so to 2011/12 but shrank 6 percent the following season – dipping from 45,058 tons to 42,379 tons — only to suffer a further “sharp decrease” in the first seven months of this season. Despite a recovery this May – July, “everything seems to indicate that (Chinese) imports will be lower than in 2011/12,” the IOC said.
On the positive side, South Korea imported just over 13,000 tons in the 10 months to July — up a third on the same period last season.
Related Articles
Feb. 19, 2024
Quality Is Key in El Mistol’s Drive to Grow in Argentina, Expand Exports
The producer hopes the new government’s policy agenda and the company’s investments to expand production will improve profitability and grow the local consumer base.
Oct. 18, 2024
Trump’s Tariff Proposals Would Sting U.S. Olive Oil Consumers
Whether there is a ten- or 60-percent tariff on all imported goods, most observers believe olive oil will become more expensive, and consumers will pay the difference.
Nov. 21, 2023
The Agronomic and Macroeconomic Forces Behind Olive Oil Prices in Italy
Despite an anticipated production rebound in Italy, prices will likely remain high. Farmers will need to adapt to a new reality.
Jun. 26, 2024
Rising Olive Oil Imports Contribute to Spain’s Trade Deficit with Argentina
While Spain’s agricultural trade deficit fell by 33 percent between 2022 and 2023, olive oil imports increased by nearly 230 percent due to a poor harvest and rising prices.
Feb. 23, 2024
World Trade Organization Finds U.S. Noncompliant in Table Olive Trade Spat
The WTO ruled that the U.S. must remove tariffs on Spanish table olive imports, while a separate case is pending in the Court of Appeals.
Jul. 20, 2024
Trade Commission Extends Tariffs on Spanish Black Olives
The decision came two months after the U.S. Court of Appeals ruled in favor of the Commerce Department’s tariffs.
Sep. 5, 2024
Spanish Producers, Policy Makers Explore Strategies for Success in Chinese Market
From an emphasis on quality and terroir to smaller packaging formats, Spanish olive oil sector stakeholders identified several strategies to increase olive oil consumption in China.
Oct. 17, 2024
Major Olive Oil Producer Loses $3M in Spate of Thefts
The CHO Group experienced warehouse thefts in Canada and the United States, with some stolen olive oil appearing at discounted prices.