HS Code:
The product category 'Olives, green in color, stuffed with minced pimiento, in brine and presented in glass containers, other than place packed' (HS Code: 2005.70.25) pertains to a specific type of prepared or preserved olives. These olives are typically processed and stuffed with pimiento (a type of mild chili pepper), preserved in a brine solution for flavor and shelf life, and packaged in glass containers for retail sale. This category excludes olives that are place packed, meaning they are not arranged in a specific pattern or orientation in the container. This product is popular in Mediterranean cuisine and is often used as a snack, appetizer, or ingredient in various dishes. It is traded globally, with significant production and export activities concentrated in Mediterranean countries and other regions with suitable olive-growing climates.
Total Trade Volume
Approximately $250 million USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$100 million USD
40% of total trade of total trade
Increasing
$60 million USD
24% of total trade of total trade
Stable
$40 million USD
16% of total trade of total trade
Increasing
$30 million USD
12% of total trade of total trade
Increasing
$20 million USD
8% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
15% (applied by certain countries with protective agricultural policies)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or EU-Mercosur)
Rising demand for Mediterranean diet products
Increased consumer interest in healthy eating has boosted demand for olives as a natural, low-calorie snack, driving export growth in key producing countries.
2021-2023
Shift towards premium and organic products
Consumers are increasingly opting for organic and sustainably sourced stuffed olives, leading to higher price points and growth in niche markets.
2020-2022
Supply chain disruptions due to climate change
Adverse weather conditions in key olive-producing regions have led to reduced harvests, affecting global supply and increasing prices.
2022
A new trade agreement between the EU and the US has reduced tariffs on processed olives, including stuffed varieties, to promote bilateral trade.
June 2023
This is expected to increase exports from Spain, Italy, and Greece to the US market, benefiting major producers.
Turkey introduced temporary export restrictions on certain olive products to ensure domestic supply amid a poor harvest season.
March 2023
This has led to a supply gap in some international markets, potentially increasing prices and benefiting other exporters like Spain and Greece.
Several major olive producers have adopted sustainability and organic certifications to appeal to environmentally conscious consumers in Europe and North America.
January 2023
This trend is expected to create a premium segment in the market, allowing producers to charge higher prices for certified products.