`U.S. Continues to Dominate World Olive Oil Imports


U.S. Continues to Dominate World Olive Oil Imports

Jun. 7, 2013
Julie Butler

Recent News

The United States docked two in every five tons of olive oil imported glob­ally in the first six months of this sea­son, accord­ing to the lat­est mar­ket newslet­ter from the Inter­na­tional Olive Coun­cil.

And the huge Amer­i­can mar­ket con­tin­ues to swell — with total imports of olive oil and olive pomace oil for Octo­ber 2012 – March 2013 in line to rise four per­cent on last sea­son.

The U.S. imported 33,208 tons in March alone, com­pared to 6,592 tons in Brazil — cur­rently the world’s sec­ond biggest non-Euro­pean olive oil buyer — where imports are up 16 per­cent, and 4,184 tons in Japan, where they’ve grown 29 per­cent.

The Chi­nese mar­ket, which unloaded 1,766 tons in March, is up 17 per­cent, and there’s been growth of five per­cent each in Canada and Rus­sia but a five per­cent slump in Aus­tralia.


Over­all, total world imports are expected to expand three per­cent on 2011/12 to reach at least 790,000 tons.

Global pro­duc­tion

The IOC said that due mainly to the 62 per­cent col­lapse in Spain’s pro­duc­tion, total world pro­duc­tion this sea­son is expected to be down a quar­ter on 2011/12’s record 3 .77 mil­lion tons, and the sea­son to end with 45 per­cent less in stocks.

Pro­duc­tion is up, how­ever, in Chile, by 30 per­cent, and by 22 per­cent each in Greece and Tunisia.

Global con­sump­tion

World con­sump­tion of 2.95 mil­lion tons is fore­cast for 2012/13, five per­cent less than last sea­son.

The Euro­pean Union (E.U.) is headed for the biggest drop — an expected over­all decline of 12 per­cent. Indi­vid­u­ally, con­sump­tion looks poised to fall 15 per­cent in the chief E.U. pro­duc­ing coun­tries — Spain, Italy and Greece — and by 10 per­cent in Por­tu­gal, the IOC said.

Turkey is the coun­try where con­sump­tion increases the most among the IOC Mem­bers,” it said.

Table olives

Mid­way through the 2012/13 crop year, table olive imports are up 13 per­cent in Canada, 11 per­cent in Rus­sia, eight per­cent in Aus­tralia, seven per­cent in Brazil and one per­cent in the U.S.

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