Chile increases its position in the olive oil market in the face of global crisis and historic prices

Olive Oil

Chile

Sustainability & Environmental Impact

Market & Price Trends

Published Mar 24, 2024

Tridge summary

Due to global shortages and rising prices of olive oil, Chile has emerged as a key supplier of ultra-premium olive oil, especially to the Japanese market. Chilean olive oil, including brands like ICONO By More, has gained global recognition for its quality and resilience. With support from ProChile and the Chilean Embassy, the country is looking to deepen and open new marketing strategies for national producers, seeing the global olive oil crisis as an opportunity for innovation and expansion.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Japan is one of the main consumers of national olive oil: Climatic adversities, harvest problems and global uncertainty are part of the reasons behind the sustained price rise that this “liquid gold” has experienced. Traditional producing powers such as Australia and Spain have seen drops of more than 30% in their exports, while Chile, thanks to climatic conditions especially in the Atacama Desert, has established itself as a key supplier of ultra-premium olive oil, capturing the attention of demanding markets like the Japanese. Santiago, March 4, 2024.- Uncertainty and global shortage of olive oil has led to an international appreciation for this product, which many already evaluate as the next “liquid gold.” This is given that the weather conditions in the main exporting countries such as Spain and Australia have generated an anticipated decrease in the harvest, which translates into a reduction in the supply of this particular product in bulk. The impact has been such that the ...

Source: CLportalagro