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Tariffs "push" European olive oil towards the US/ Spanish producers are considering new investments in the American market
2025-04-13 15:57:00 / EKONOMI&SOCIALE
One of Spain's leading olive oil producers is considering expanding into the U.S. in response to the tariff war launched by Washington. Its competitors are also rushing to export, while most of the new tariffs have been suspended.
Spain produces about 40% of the world's olive oil and ships about 180,000 metric tons per year to the United States.
"In the medium and long term, we may need to make more investments in the United States, which are ultimately investments that will be made there instead of in Europe," said Antonio Luque, CEO of Dcoop, one of the two partners of the best-selling American brand Pompeian.
He said Dcoop, a cooperative of 75,000 families in the southern Andalusia region, could expand its still modest olive plantations in the United States, where Pompeian has two packaging plants. Last year, Dcoop's sales there totaled 240 million euros.
President Donald Trump's administration has imposed a 10% tariff on imports of most European goods, including olive oil, although it announced a 90-day pause on Wednesday for the higher "reciprocal" tariffs of 25%.
Luque said uncertainty around Trump's trade policies makes planning difficult, but Dcoop still hopes to expand its market share in the U.S., believing that a 10% tariff would not significantly hurt sales.
Spanish exporters' association Asoliva expects olive oil supplies to increase in the coming months, thanks to a recovery from a prolonged drought. Also, a possible drop in prices could partially offset the tariffs.
Other producers like Nortoliva, which exports 10% of its production to the US, are accelerating their shipments before the 25% tariff takes effect.
"We are loading new orders in the US today and next week," said Nortoliva CEO Jordi Guiu. "Our US customers are increasing orders, they want to expedite deliveries to avoid paying the additional fee within 90 days," he said./ SCAN
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