Daily Archives: July 2, 2014

  • Olive oil consumption falling in Greece according recent survey

    Olive oil consumption is on a decline in the Greece’s market in the last few years, as a reduced available income has lead consumers to cut spending even on basic food products, as Ana-Mpa reported quoting a survey by Infobank Hellastat.

    The study, examining the domestic market of olive oil production showed that consumption of olive oil stabilized at 200,000 tons in the 2012-2013 period, and was expected to fall further in the current period.

    This decline basically covers brand olive oil products, as consumers largely prefer to buy olive oil from producers. At the same time, consumption of labelled olive oil is constantly rising putting more pressure to brand producers.

    Domestic olive oil production totaled 357,900 tons in 2012/2013, up 22% from the previous period, while production in the 2013/2014 period was projected to fall by 62% to 135,500 tons, hit by adverse weather conditions.

    The survey analyzed the financial results of 110 enterprises in the sector, with a total turnover of 409.77 million euros in 2012, down 4% from the previous year.

    Operating earnings fell 7% to 28.17 million euros, while pre-tax earnings dropped 40% to 3.56 million euros.

    Source ANSAmed

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    Olive oil consumption is on a decline in the Greece’s market in the last few years, as a reduced available income has lead consumers to cut spending even on basic food products, as Ana-Mpa reported quoting a survey by Infobank Hellastat. The study, examining the domestic... 
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  • Largest Specialty Food and Beverage Event held at New York City

    Extra virgin olive oil producers crossed the ocean once again to attend the Summer Fancy Food Show, held between 29 June and 1 July in New York. Innovative offers, business meetings and the Awards ceremony conducted one of the largest U.S. food fairs.

    The event, organized since 1955 by the Specialty Food Association, takes place twice a year in two forms: Winter Fancy Food in San Francisco, and Summer Fancy Food, held at the Convention Center Jacob K. Javits in the city of skyscrapers.

    The 60th edition of this fair attracted professionals from gourmet shops, retailers, distributors, restaurants and delicatessen stores, featuring 2,730 exhibitors this year, the largest number since the creation of this event, and provided assistance to 24,100 visitors. In addition, about 180,000 culinary specialties and beverages filled every showroom, representing new and original products.

    Business meetings between exhibitors and buyers, workshops, seminars and many more activities played an important role in the Summer Fancy Food program. Some of them even dedicated to olive oil. Thus, under the title What exactly do you need to know about olive oil?, the International Olive Council (IOC) offered a seminar dedicated to this product. At this meeting, the executive director of the agency, Jean-Louis Barjol recalled the definitions of the different olive oil categories, those characteristics that make this product so special, its properties and its versatility in the kitchen; while the executive vice president of the North American Olive Oil Association (NAOOA), Eryn Balch, spoke about What the American consumer really thinks of olive oil.

    In addition, Fitch Learning Center in New York hosted a Seminar on Quality and Intensive Olive Oil Tasting, organized by Extra Virgin Alliance (EVA) and addressed to buyers, food professionals, chefs and extra virgin olive oil lovers. Through this training activity, students learnt the fundamentals of olive oil tasting -in a carefully designed context- from top people working in the olive oil and food industries.

    New York Summer Fancy Food Show Website

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    Extra virgin olive oil producers crossed the ocean once again to attend the Summer Fancy Food Show, held between 29 June and 1 July in New York. Innovative offers, business meetings and the Awards ceremony conducted one of the largest U.S. food fairs. The event, organized since... 
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