Spanish olive oil enjoys an image of quality and prestige in Guatemala

Published 2021년 1월 13일

Tridge summary

A study by ICEX Spain highlights the growing market for olive oil in Guatemala, with consumption increasing due to the rise in demand for Mediterranean and healthy food options. Despite the high cost, olive oil is becoming more popular among the middle class. In 2019, Guatemala imported olive oil to the value of 5.2 MUSD, with Spain being the primary supplier. The market is particularly attractive for Spanish olive oil producers due to the lack of local production and the 2013 Association Agreement between the EU and Central American countries, which lowers tariffs for European products. The market relies heavily on retail and Horeca channels, especially supermarkets, and the success of a product often depends on local representation and personal contact.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This is clear from a study by ICEX Spain Export and Investments in which it indicates that, even so, it should not be forgotten that Guatemala is a price market, so it will be necessary to reduce prices if it is to reach a broader segment of consumers. The olive oil sector in Guatemala is a still immature sector, which has not yet developed to its full potential, thus presenting great opportunities for Spanish exporters. According to this report, the consumption of olive oil has been increasing over the years in the country, as the consumption of Mediterranean and healthy products increased with the improvement of the standard of living of the Guatemalan middle class. The evolution of Guatemalan imports of this product has followed a positive trend in recent years, reaching a value of 5.2 MUSD in 2019. 59% of the value of olive oil imports in 2019 corresponds to virgin olive oil and 37% to other olive oils. Spain has become the main supplier of olive oil in Guatemala (in 2019 it ...

Source: Mercacei