Paraguay increases demand for Spanish extra virgin olive oil

Published 2024년 10월 2일

Tridge summary

The olive oil market in Paraguay is experiencing a surge in demand for premium products, particularly extra virgin olive oil, with imports rising by 8.2% in 2023 despite a global production decline. Spain remains the primary supplier, and the market is dominated by 10 distribution companies. The absence of import tariffs and regulation by the National Institute of Food and Nutrition create a favorable environment for international suppliers, especially Spanish companies, to expand their presence by offering high-quality, differentiated products. This trend presents significant growth opportunities in an expanding market facilitated by straightforward distribution channels and favorable tariff regulations.

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

Original content

The olive oil market in Paraguay has shown a growth in demand for premium oils, especially extra virgin olive oil, in recent years. According to a report prepared by the Economic and Commercial Office of Spain in Asunción, olive oil imports in the country registered an increase of 8.2% in 2023, compared to the previous year, reaching a total of 3.07 million USD. Global and local market trends Globally, olive oil production has fallen significantly in 2023, with a reduction of 33% compared to 2022, according to the International Olive Council. This drop in production, largely attributed to adverse weather conditions and inflation, has led to an increase in product prices, especially in Spain, where the price of olive oil increased by 69.3% between 2023 and 2024. In this context of scarcity and high prices, Paraguay has seen a growing demand for higher quality products. During the 2019-2023 period, the value of imports fluctuated between USD 2.3 million and USD 3.07 million, with ...

Source: Oleorevista