Oiled business: Exports from the olive complex expanded strongly in a context of high prices in Argentina

Published 2024년 9월 4일

Tridge summary

Argentina has experienced a 27% increase in olive oil exports in the first half of 2024, reaching a value of 54.6 million dollars, as reported by the consulting firm IES. This surge is attributed to the high prices and reduced volume of exports from Spain and Italy due to an intense drought. The report also highlights a recovery in the country's olive oil production and domestic consumption, which increased by 39.3% and 39% respectively in 2023 compared to the previous year. However, table olive exports have seen a significant increase of 77% in the first half of 2024, while domestic consumption has decreased by 41.5% due to reduced purchasing power and inflation.

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Original content

Olive oil exports expanded by 27% in the first half of 2024, reaching a value of 54.6 million dollars, which represents a significant increase compared to the 43.2 million in the same period in 2023. In this way, according to a report by the consulting firm IES, the Argentine product was consolidated in the demanding international market in a context of high prices, after the intense drought in the European Union affected the volume of exports from Spain and Italy, the main olive oil producing countries. “In June of this year, international olive oil prices in the ports of Spain showed a strong year-on-year increase of 25.4%, reaching 791 euros per 100 kilograms. It should be noted that in the average for 2023, prices showed a recovery of 75%. But since the lows recorded in July 2020, the jump has been huge, no less than 315%. Taking this data as a reference, Alejandro Ovando, director of the consulting firm Investigadores Económicas sectoriales (IES), stressed that “the external ...

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