U.S.: Olive Market 2024

Olive Market Size in the U.S.

The U.S. olive market contracted dramatically to $X in 2022, dropping by X% against the previous year. Overall, consumption showed a abrupt setback. Olive consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Olive Production in the U.S.

In value terms, olive production fell sharply to $X in 2022. Over the period under review, production recorded a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

The average yield of olives in the United States contracted rapidly to X tons per ha in 2022, dropping by X% compared with the year before. Over the period under review, the yield continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. Over the period under review, the average olive yield reached the maximum level at X tons per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of olives were harvested in the United States; therefore, remained relatively stable against 2021. Overall, the harvested area saw a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to olive production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Olive Exports

Exports from the U.S.

In 2022, approx. X tons of olives were exported from the United States; declining by X% against 2021. In general, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, olive exports contracted significantly to $X in 2022. Over the period under review, exports saw a noticeable downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

Canada (X tons) was the main destination for olive exports from the United States, accounting for a X% share of total exports. Moreover, olive exports to Canada exceeded the volume sent to the second major destination, Panama (X tons), fivefold. Colombia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Colombia (X% per year).

In value terms, Canada ($X) remains the key foreign market for olives exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Colombia (X% per year).

Export Prices by Country

The average olive export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (X%), while the prices for the other major destinations experienced more modest paces of growth.

Olive Imports

Imports into the U.S.

In 2022, approx. X tons of olives were imported into the United States; declining by X% on the year before. In general, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, olive imports expanded markedly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) was the main supplier of olive to the United States, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled X%.

In value terms, Mexico ($X) constituted the largest supplier of olives to the United States.

From 2012 to 2022, the average annual growth rate of value from Mexico was relatively modest.

Import Prices by Country

In 2022, the average olive import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Mexico.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to X% per year.

Source: IndexBox Platform

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