The olive oil stock in the US has shown significant variation over the past decade. From a low of 5.0 thousand metric tons in 2014, it soared to 11.0 thousand metric tons in 2015 and peaked at 28.0 thousand metric tons in 2016. This period was followed by a sharp decline to 7.0 thousand metric tons in 2017. There was another notable spike in 2018 to 23.0 thousand metric tons, and from 2019 onwards, the trend has been relatively stable with minor fluctuations, culminating in 26.0 thousand metric tons in 2023.
Year-on-year variations have been highly volatile, with drastic increases and decreases, particularly noted in 2015, 2016, 2017, and 2018. More recent years have seen moderate growth; for example, 2023 exhibited a stable 4% increase. The Compound Annual Growth Rate (CAGR) over the last five years stands at 2.48%, and the forecast indicates a CAGR of 2.8% from 2024 to 2028, suggesting a steady yet moderate average annual growth.
Future trends to watch for include variations in global olive oil production, trade policies, and domestic consumption patterns, which could influence stock levels in the US significantly. Additionally, shifts towards sustainable and locally sourced products may also impact the market dynamics.
