The virgin olive oil production in Chile has shown a steady increase from 2013 to 2023, reaching 27.61 thousand metric tons in 2023. The year-on-year variation for 2023 was 4.23%, with an average annual growth (CAGR) of 4.74% over the last five years. Notably, the early period saw higher growth rates, peaking in 2014 with a 34.35% year-on-year increase and a five-year CAGR of 31.29%. However, growth rates have since moderated.
Looking ahead, the forecasted data from 2024 to 2028 suggests continued growth, albeit at a slower pace. The production is expected to reach 33.47 thousand metric tons by 2028, representing a forecasted five-year CAGR of 3.02% and a cumulative growth rate of 16.03% over the five-year period.
Future trends to watch for:
- Potential impacts of climate change on agricultural yields.
- Technological advancements in olive cultivation and oil extraction processes.
- Shifts in global demand for virgin olive oil and potential new export markets.
- Government policies and subsidies supporting the agricultural sector.
