Daily Archives: April 1, 2014

Prices of virgin olive oil traded on the MFAO Olive Oil Exchange in Jaen, Spain, fell 35 percent in the past year while soybean oil dropped 19 percent on the Chicago Board of Trade.

Agricultural prices have declined globally from last year amid rising output of everything from soybeans to sunflowers.

Extra virgin olive oil prices in Spain declined to a 19-month low of $2,725 a ton last week, almost 30
percent below a year earlier, according to Oil World.

Global olive oil output may be smaller than previously expected amid reduced supplies from Greece to Tunisia, allowing top producer Spain to increase its share of export markets, Oil World said.

World production of olive oil will be 3.27 million metric tons in the 2013-14 season that ends in
September, about 50,000 tons below the previous estimate, the Hamburg-based researcher said in an e-mailed report.

Output will still be 26 percent larger than the previous season, when dry weather hurt crops in Spain, and will exceed global consumption of 3.17 million tons, according to the report. “This season’s Spanish production is steeply above last season’s disastrously low level” .

Pompeian Varietals Extra Virgin Olive Oil Koronieki Variety is a hit reports Phil Lempert with the New Product Hits & Misses.

I was impressed when I saw on the label that this extra virgin olive oil had acidity of less than 1/2 of one percent.

To be considered extra virgin it must be 1% or less. The aroma is disappointing and although they say the flavor is full bodied it does have a fresh tasting flavor.

The blend of olive oil from Greece and Chile makes it blander than many other extra virgin olive oils. If you’re looking for a mild olive oil, but don’t like the extra light varieties this could be for you.

Koronieki is a Greek variety of olive, which is very small with a very high level of polyphenols. Retails for $6.99 for 16 fl oz. Read more