Spanish olive oil leads in the US: More expensive and more sold than Italian

Published 2024년 9월 1일

Tridge summary

The United States has seen a significant shift in its olive oil market, with Spanish olive oils becoming more popular and expensive than Italian ones for the first time in history. Between January and June 2024, the average price of imported Spanish olive oil was €8.81 per kilo, compared to €8.62 for Italian oils. Spain's success is reflected in its increased exports to the United States, which rose by 20.50% in the first half of 2024, reaching 70,000 tonnes. This has given Spain a market share of 35.45% in volume and 37.60% in value, with a record turnover of 611 million euros. This trend is not limited to the United States but is also observed in Canada and Japan, indicating a growing global preference for Spanish olive oils.

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

Original content

The olive oil market in the United States has experienced a historic upheaval: for the first time, American consumers have paid more for Spanish olive oils than for Italian ones. According to data recently confirmed by the U.S. Department of Commerce, Bureau of Census, between January and June 2024, the average price of imported Spanish olive oil was €8.81 per kilo, surpassing Italian, which stood at €8.62 per kilo. A market led by Italy To understand the significance of this milestone, it is necessary to remember that, traditionally, the United States has been a market dominated by Italian oils, thanks in large part to the influence of the Italian-American community since the end of the 19th century. However, sales leadership changed in 2014 when Spain took the lead. Even so, Italian oils maintained their prestige, which was reflected in higher prices, until now. This change in trend is remarkable when we consider that a decade ago, Spanish oils were sold in the US at prices up ...

Source: Oleorevista