Spanish olive oil exports to the US increase by 28%

Published 2022년 2월 11일

Tridge summary

The article highlights the positive impact of the US removing a 25% tariff on Spanish olive oil in 2021, leading to a 28.08% increase in Spanish olive oil exports to the US, despite a overall decrease in US imports. Spanish exports to the US regained their lead over Italy and surpassed competitors like Italy and Tunisia, who experienced decreases in their exports to the US. In Canada, Spain's olive oil market share grew to 35.02%, making Canada the fourth largest importer of olive oil in the world, with Spanish shipments to Canada increasing sevenfold since 2002. In Mexico, Spain maintained strong leadership in the olive oil market, holding an 89% share of imports from January to September 2021.

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Original content

The withdrawal -in the spring of 2021- of the 25% US tariff on packaged olive oil made in Spain has already been eloquently noted in national shipments to that market. Despite the decrease of 9.31% -up to 365,916 t- of US imports of liquid gold in 2021, Spanish entries increased by 28.08%, compared to 2020, and amounted to 108,650 t (between bulk and packaged) , according to import data from the Census Bureau Census Bureau of the US Department of Commerce, published here by the Spanish interprofessional. Of that volume of olive oil exports, "33,000 t corresponded to bottled oil. It is 140% more than in 2020, in presentations that directly suffered the imposition of the 25% tax. Spain has not managed to snatch -from Italy- leadership in that market for only 4,000 t". "Since 2016, Spain was ahead of Italy as a supplier of olive oil to the US. The distance between the two countries widened until, in 2019, Spain achieved record sales of 146,289 tons, compared to 102,006 for Italy.The ...

Source: Alimarket