Brazil Emerges as a Strategic Target for Greek Olive Oil Exports
Brazil has become the dominant olive oil market in Latin America, drawing close attention from European exporters seeking expansion opportunities. The country imports roughly 95,000 tons of olive oil each year, a volume that underscores both its scale and its dependence on foreign suppliers.
Consumption in Brazil stands at about 96,000 tons annually, according to the International Olive Council data for the 2024 2025 period. Average consumption during the past 5 years has remained stable at nearly 95,000 tons per year, while per capita use of around 0.4 kg highlights significant potential for growth as the product gains traction among consumers and food service operators.
Regional comparisons show that no other Latin American market approaches Brazils size, with Mexico importing approximately 12,000 tons, Chile 3,000 tons and Argentina near 500 tons. Combined, these countries reach about 110,500 tons of imports, with Brazil responsible for the overwhelming majority.
Limited Production Across Latin America
Production levels in the region explain why import dependence remains so high. Argentina is the leading producer with around 75,000 tons, followed by Chile at about 22,500 tons, while smaller volumes are reported in Peru and Uruguay. Brazil itself has a growing domestic sector but still registers negligible production in IOC balances, reinforcing its need for overseas supply.
Competition among suppliers is already strong. Portugal accounts for nearly 57 percent of Brazils imports, supported by historical ties and established distribution networks. Spain follows closely, while producers from Argentina and Chile also maintain visibility in the market.
The Role of a Possible EU Mercosur Trade Agreement
A potential free trade agreement between the European Union and Mercosur could reshape olive oil flows if approved. The European Commission highlights olive oil as a priority export to Mercosur countries, noting that current exports reached 600 million euros in 2024 and face a 10 percent tariff. The proposed deal would eliminate or reduce tariffs on a large share of European goods, including removing duties on 91 percent of Greek products.
Lowering import costs by 10 percent could allow Greek producers to offer more competitive pricing in Brazil. Improved affordability at retail level may support greater market penetration, while strategically the agreement would offer Greece a valuable route to diversify export destinations at a time of shifting global trade risks.
Brazil therefore stands out as a large scale alternative market where Greek exporters are already exploring new partnerships, viewing the country as an avenue for long term expansion.
