Daily Archives: December 11, 2013

  • Mattei Olive Oil - retail premium olive oil business story

    Felipe Mattei aims to teach Michelin-starred chefs and the public about pairing different oils with foods.

    Without a single penny to invest, I started a business at the age of 23 and managed my cashflow through the capital of my own suppliers.

    I run a business that aims to distribute and retail premium olive oil, and also teach Michelin-starred chefs and the public about pairing different oils with foods – as is the case for wine.

    Being fresh out of university, I simply did not have the capital to buffer my cashflow and cover all the business startup costs. But money comes in many forms, and I found that my own suppliers are my best source of finance.

    I travelled to Italy and Spain and met directly with the olive oil producers. Thanks to a good dose of enthusiasm and a sound plan, I showed that my business would provide long-term benefits and they agreed to support me with an initial stock completely free-of-charge.

    I also seek both distributorship and agency agreements with suppliers (most people do not realise these are independent), which enables me to buy and resell the products at times, and bring the products in and sell for a commission at other times, ensuring a deal never slips through oily fingers.

    Drop by drop I aim to grow the business; helping chefs create olive oil menus and teaching consumers how to make better food with fine olive oil from around the world.

    Felipe Mattei is the director of Mattei Olive Oil

    Source Guardian

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    Felipe Mattei aims to teach Michelin-starred chefs and the public about pairing different oils with foods. Without a single penny to invest, I started a business at the age of 23 and managed my cashflow through the capital of my own suppliers. I run a business that aims to distribute... 
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  • World Market for Olive Oil, Table Olives and Producer Price Movements in 2012/13

    OLIVE OIL MARKET– – –
    In the 2012/13 crop year, i.e. from October 2012 until September 2013, trade in olive oil and olive pomace oil expanded by 18 pc in Japan, 8 pc in Russia and 5 pc in Brazil but shrunk by 10 pc in Australia, 8 pc in China and 6 pc each in the United States and Canada. The EU data for September 2013 were not available at the time of publication, but the figures for the first eleven months of the crop year (October 2012–August 2013) report an increase of 61 pc in extra-EU/27 imports and a decrease of 10 pc in intra-EU acquisitions versus the same period a season earlier. This is obviously linked to the low level of EU olive oil production in 2012/2013.
    2013-12-12_olive_oil_imports

    TABLE OLIVE MARKET
    As can be seen from the next table, table olive imports in the 2012/13 crop year (October 2012–September 2013) rose by 8 pc each in Brazil, the United States and Russia and by 5 pc in Canada while they remained at the same level in Australia compared with the same period the season before. Again, the EU data for September 2013 were not available when writing this newsletter. However, in the eleven months from October 2012 to August 2013, extra-EU/27 imports increased by 2 pc and intra-EU-27 acquisitions by 3 pc compared with the same period the season before.
    2013-12-12_table_olive_inports

    PRODUCER PRICE MOVEMENTS
    Graphs 1 and 3 track the weekly movements in the prices paid to producers for extra virgin olive oil and refined olive oil in the top three EU producing countries. The monthly price movements for the same two grades of oil are given in Graphs 2 and 4.

    Extra virgin olive oil Price:
    Standing at around €2.30/kg, the prices paid to producers in Spain in late November were 1 pc lower than the same time a season earlier as markets reacted to the announcement of a good crop in the 2013/14 season, which opened on 1 October 2013, and the likelihood of olive oil storage being emptied as much as possible to make way for new season production.

    Even so, it should be remembered that prices had begun moving downwards already at the beginning of April 2013. Prior to that, they had started to climb sharply in late July 2012, reaching €2.64/kg by the third week of September. They then switched course in the second week of October, dropping until the second week of December, only then to hit a peak of €3.02kg in early March 2013.

    After dropping previously, prices in Italy started to rise in the last week of October and reached €2.65/kg by the end of November, up by 2 pc on the same time the year before. It should be remembered that they rose from a low of €2.61/kg in the last week of November 2012 to €3.23/kg in the last week of April 2013, at which point they progressively dipped to €3.12/kg (-3 pc) where they held steady (see Graph 1).

    At the end of September, prices in Greece were lying at €2.50. They then started to drop and levelled off for about four weeks at €2.36 in late October/November only to pick up to €2.41 in the last week of November. This price level is 15 pc higher than the same period a year earlier and probably mirrors the small crop expected for 2013/14.
    2013-12-11_evoo


    Source latest market report from the IOC November 2013 market newsletter

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    OLIVE OIL MARKET– – – In the 2012/13 crop year, i.e. from October 2012 until September 2013, trade in olive oil and olive pomace oil expanded by 18 pc in Japan, 8 pc in Russia and 5 pc in Brazil but shrunk by 10 pc in Australia, 8 pc in China and 6 pc each in... 
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  • Brazilian imports of olive oil and olive pomace oil continue upwards

    Brazilian imports of olive oil and olive pomace oil continue upwards, reaching 74 873.8 t in 2012/13 representing 5 pc growth on the previous season. EU countries accounted for 88 pc of this tonnage, with Portugal leading the way (57 pc), followed by Spain (25 pc), Italy (6 pc) and Greece (1 pc).

    The remaining 12 pc came from Argentina (9 pc), Chile (2 pc) and miscellaneous other countries (1 pc). The figures for the latest five crop years in Table I show that as imports have increased in volume, Portugal – Brazil’s top supplier – has been gaining a stronger foothold in the market in both absolute and relative terms with its market share expanding from 52 to 57 pc.

    Notably, more than 75 pc of Portugal’s non-EU exports go to Brazil. Between 2008/09 and 2012/13 (Table I), total imports climbed by 30 358 t (+70 pc). Growth has been continuous in recent years, as can be seen from Graph I, but has become more pronounced since 2006/07.

    The monthly movements on the Brazilian market are reported in section II below:

    20131211-142515.jpg
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    The trend of imports over the last 10 crop years is plotted by oil category in Graph II. This shows that in the 2002/03 crop year 39 pc of imports were virgin grade (customs heading 150910) while 61 pc was olive oil imported under heading 150990. By 2012/13 the tables had turned and 73 pc of imports were virgin, 25 pc were olive oil and 2 pc were olive pomace oil imported under customs heading 151000.

    20131211-142539.jpg

    Source latest market report from the International Olive Council

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    Brazilian imports of olive oil and olive pomace oil continue upwards, reaching 74 873.8 t in 2012/13 representing 5 pc growth on the previous season. EU countries accounted for 88 pc of this tonnage, with Portugal leading the way (57 pc), followed by Spain (25 pc), Italy (6 pc)... 
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