Daily Archives: October 7, 2013

  • A 965-hectare olive grove in South Australia has been sold to an overseas investor with NSW business interests for $1.65 million

    The sale follows renewed interest in olive groves nationally as production climbs to record levels in what is a small cropping industry.

    The property on Burns Road in the rural town of Coonalpyn, south-east of Adelaide, has 119,000 olive trees offering six varieties as well as water licences for 1523 megalitres. A portion of the land was not able to be developed and is protected by a native vegetation heritage agreement

    It was originally part of a scheme where buyers could buy units in an investment plantation. The units were consolidated and sold off in one line.

    The sale was negotiated by Knight Frank’s Garry Partington, who said the price was in line with the valuation.

    “We had strong interest from a large number of parties in what is reportedly a tough market, which was refreshing,” Mr Partington said. “A lot of the enquiries were interstate and overseas investors, including the successful purchaser.

    “We have a lot of active buyers who clearly see an upside in Australian agriculture.”

    Mr Partington said the olive grove market had been under pressure for a number of years with properties on the market now valued at below cost.

    According to the Australian Olive Association, Australian Table olive growers are generally small boutique producers generating around 4000 tonne of product each year worth around $12 million.

    Australians are relatively large consumers of olives and olive oil for a non-Mediterranean country, but the majority purchase cheaper overseas products swayed by those labelled as “extra virgin olive oil”.

    “Many of these products are not actually extra virgin,” said Mr Partington. He said a national standard for olive oil labelling would improve the sales of local olive oil.

    theland

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    The sale follows renewed interest in olive groves nationally as production climbs to record levels in what is a small cropping industry. The property on Burns Road in the rural town of Coonalpyn, south-east of Adelaide, has 119,000 olive trees offering six varieties as well... 
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  • USITC report highlights central role of IOC in olive oil world

    The IOC largely agrees with the market data reported, which are mostly drawn from the IOC balances

    The IOC Executive Secretariat had access to the U.S. International Trade Commission report, Olive Oil: Conditions of Competition between US and Major Foreign Supplier Industries (Investigation 332-537, USITC Publication 4419, August 2013), on 12 September.

    In this report, the USITC has gone to great lengths to investigate the intricacies of the olive oil market. The IOC greatly applauds this endeavour and acknowledges the difficulty of such a task.

    Numerous enquiries have been conducted in many countries and organisations cited in the report, which often have dissimilar and diverging interests. At times, the opinions and information reported may not be sufficiently objective, corroborated or consistent, but in no way does this detract from the efforts of the USITC; simply, on such occasions, opinions as opposed to facts are conveyed.

    The IOC largely agrees with the market data reported, which are mostly drawn from the IOC balances. Likewise, it appreciates the acknowledgement of its role as a world olive oil forum and its position as an authority in areas such as olive products standardisation. It wishes to thank the authors of the report, who refer to the Organisation more than 300 times, and is ready to give any additional clarifications or data that might be needed. It reiterates that the Organisation is a neutral, intergovernmental institution which has always attended to the needs of all countries, whether they are member or non-member, producing or consuming.

    As an organisation whose membership accounts for 97% of world olive oil production, the IOC considers cooperation among all countries and the alignment and fulfilment of standards to be of key importance in the drive to enhance the quality and authenticity of the olive oils sold across the globe and to facilitate trading by precluding unfair competition. Last but not least, it extends a further invitation to all the producer countries – and all the consumer countries in the not too distant future – to join the membership of the Organisation, so following in the footsteps of Uruguay, the latest New World addition to the IOC.

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    The IOC largely agrees with the market data reported, which are mostly drawn from the IOC balances The IOC Executive Secretariat had access to the U.S. International Trade Commission report, Olive Oil: Conditions of Competition between US and Major Foreign Supplier Industries... 
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  • The forecast for the next olive oil campaign are positive for Italy and Spain

    All the Iberian Peninsula will back to more usual levels of production. Good outlook also for Italia, in particular in Centre and North. The quotation will degree in coming weeks, also if the stock level is the lowest fro many years

    Back in smile Italy. After a rather disappointing oil campaign last year, especially in the central regions, the next oil campaign should be rich and plentiful, although there will be exceptions.
    Overall, Italy is expected to produce 330/350 thousand tons of olive oil with the South..
    It will in particular Puglia to shine with a production estimated at 180 000 tonnes, of which the majority concentrated in the north of the region: Bari and Gargano. In difficulties, climate and plant disease problems, Salento and in particular the Brindisi.
    In Calabria, after an excellent performance last year, the outlook is less positive. The production should be around the 80 thousand tons.

    Situation much more difficult to estimate in Sicily where we denote an output similar to last year but with some areas with low production as the Monti iblei and Messina.
    Good forecast to the center north where, in almost all regions, production is expected to grow by at least 15-20 % compared to last year’s disastrous campaign. In sharp recovery will be especially Sardinia, with a production that should substantially exceed the 10 thousand tons, while Tuscany it hard not to exceed 15 thousand tons. To suffer a bit ‘ more Apennines and central areas because of heavy winter and spring rains that have given rise to substantial attacks peacock eye . It is not uncommon to come across olive groves bare. In coastal areas, conversely, to even worry about these days are the attacks of the olive fruit fly that were insistent and frequent since the middle of July.

    Looking across the border we find that Spanish olive growers and millers are smiling. Spain is credited with a production 1.300.000 to 1.350.000 tons. In the great sweep especially Andalusia , which should recover production levels prior to those of the disastrous campaign in 2012/13 and return to exceed 700 thousand tons. Excellent production performance in Catalonia.
    It is not only Spain to smile in the Iberian Peninsula but also Portugal, which will have a production of 70-80 thousand tons largely resulting from the entry into production of the new plants of Arbequina.

    Many problems than in Greece, where the output should not exceed 180-200 thousand tons. In particular, it will be the island of Crete to disappoint the expectations, with a production that should not exceed 40.000 tons.

    In extraordinary recovery, after the first data collected in July, Tunisia. Thanks to rains in recent weeks much of the crop is safe and should reach about 100 thousand tons. Drought in the south, where it produces more oil and virgin clear , the campaign will be low and the north will produce extra virgin olive oils of good quality.
    Staying in North Africa , Morocco strordinaria not recorded a year with an estimated production of 80-90 thousand tons. On the contrary, the production of Tunisia should focus more abundant in the south while in the north the situation is certainly more difficult.

    Also declining oil production in Turkey , with a production that should not exceed 140 thousand tons. To invalidate this finding, however, might be carrying illegal, but now in place, the Syrian oil brought by refugees from war and beyond. At the time the Turkish authorities seem to turn a blind eye view of the overall situation, of these trades, but with the new campaign, where Syria is credited with 90-100 thousand tons, the situation could change.

    Stocks
    Stocks around the Mediterranean basin are the all-time low for many years now. In Spain there are more than 300 thousand tons while in Italy a few thousand concetrate mainly in Puglia and Calabria. Virtually no stocks in Greece while there remain a few thousand tons available in Tunisia, although not of very good quality .

    Quotations
    We estimates a gradual decline in prices in the coming weeks, which could even reach 20% of the Spanish market. As a consequence, there would also declines in Italy and in Greece .

    by Alberto Grimelli, Marcello Scoccia from teatronaturale

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    All the Iberian Peninsula will back to more usual levels of production. Good outlook also for Italia, in particular in Centre and North. The quotation will degree in coming weeks, also if the stock level is the lowest fro many years Back in smile Italy. After a rather disappointing... 
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