Daily Archives: July 9, 2014

  • Discover Cooking with California Olive Oil Recipe Contest

    We Olive, olive oil & gourmet foods retail and wine bar chain, announces the return of their annual Discover Cooking with California Olive Oil Recipe Contest. The competition awards the creator of the best original recipe featuring We Olive olive oil a food and wine getaway to California’s Central Coast.

    The contest, which runs through July 14, 2014, was designed to educate consumers about the small olive growers of California and inspire home cooks to experiment with high quality extra virgin olive oils.

    “Our mission at We Olive is to promote the artisan growers that are committed to producing high quality, true extra virgin olive oil. Most Americans are accustomed to grocery store olive oil, which is not typically fresh or recently harvested, often mislabeled as extra virgin and, many times, rancid,” explains We Olive Owner, Frank Mercurio.

    We Olive features olive oils that are produced in California and certified extra virgin by the California Olive Oil Council (COOC) through an expert tasting panel and rigorous chemical analysis.

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    We Olive, olive oil & gourmet foods retail and wine bar chain, announces the return of their annual Discover Cooking with California Olive Oil Recipe Contest. The competition awards the creator of the best original recipe featuring We Olive olive oil a food and wine getaway... 
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  • Olive Oil Producer Prices

    Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin olive oil in the three top EU producing countries plus Tunisia while Graph 3 shows the weekly changes in the producer prices for refined olive oil in the three main EU producers.

    The monthly price movements for the same two grades of oil are given in Graphs 2 & 4.

    Extra virgin olive oil: After moving downwards in recent months, producer prices in Spain started to inch up a few weeks ago, perhaps in reaction to forecasts of a smaller harvest for next year. By the last week in June, they had reached €2.16/kg. While this is still 22 pc lower than the same period a year earlier it is 10.2 pc above the level reached in the third week of May (€1.96/kg). During the period analyzed, prices peaked at €3.02/kg at the beginning of March 2013 (see Graph 1).

    Italy: In recent months, producer prices in Italy have been clearly pointed upwards. In the first three weeks of June they reached their highest level (€3.67/kg) of the period analyzed in Graph 1, only to dip to €3.65/kg in the last week of the month. This level is 17 pc higher than a season earlier and 38 pc higher than the price low recorded in the second week of December 2013 (€2.64/kg).

    Greece: Prices look more stable in Greece than in Spain and Italy. Although they rose between March and April 2014 to reach the highest levels recorded in the graph (€2.61/kg), in June they held steady at around €2.49/kg, which is 1 pc above the level in the same period of the previous crop year.

    Tunisia: At the end of October 2013, producers were paid €2.53/kg for their extra virgin olive oil. After that, prices started moving downwards until late December 2013, when they leveled off after some fluctuations, only to pick up in late June, when they reached €2.43/kg, thus showing a decrease of 11 pc versus the same period a season earlier. Producer prices in 2012/13 were influenced by the poor harvest in Spain, which generated higher prices than in 2011/12. This season, the combination of a good harvest in Spain and a poor harvest in Tunisia probably partly explains the current level of prices in Tunisia, which have moved away from Spanish prices since early January 2014.

    (Graph 1) :
    2014-07-09_graph_2

    (Graph 2):
    2014-07-09_weekly

    Refined olive oil: In Spain, the producer prices for refined olive oil, like those for extra virgin, have started to go upwards in recent weeks, reaching €2.07/kg by the end of June. Even so, this is still 16 pc lower than the same period a year earlier. In Italy, prices have been moving in parallel with prices in Spain, although with a peak in the third week of January (€2.83/kg), after which they fell to €2.00/kg in late June 2014. No price data are available for this product category in Greece.
    At the end of May 2014, the price of refined olive oil and extra virgin olive oil in Spain differed by €0.09/kg with €2.16/kg being paid for the first category and €2.07/kg for the second. In Italy, the difference in price between the two categories is much wider than in Spain and lies at €1.65/kg (Graph 3).

    (Graph 3):
    2014-07-09_3

    (Graph 4):
    2014-07-09_4

    International Olive Council Market Newsletter No 84 – June 2014

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    Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin olive oil in the three top EU producing countries plus Tunisia while Graph 3 shows the weekly changes in the producer prices for refined olive oil in the three main EU producers. The monthly... 
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  • Word Market for Olive Oil and Table Olives: 2013/14

    1. OLIVE OIL: MARKET DEVELOPMENTS
    If imports in April 2014 are compared with the figures for the same month a year earlier, it emerges that all the key markets are picking up and recording growth ranging from +8.7 pc in Australia to +37.2 pc in the United States and +137.8 pc for Canada. The only exception is China where there is a 25 pc decrease.

    For this reason, trade in olive oil and olive pomace oil through the first seven months of 2013/14 only shows a decrease of -2 pc in the seven countries listed below compared with the same seven months in 2012/13, going down from 348 304.0 t to 341 288.2 t. When broken down in detail, review shows an increase in imports of 11 pc in Canada, 8 pc in Russia and 7 pc in Japan but virtually no change in the United States. Canada is particularly striking in that imports have switched from negative to positive values. Import decreases are located in China (-28 pc), Brazil (-9 pc) and Australia (-7 pc) although there have been signs of recovery in the last two countries in recent months compared with levels during the same period of the previous season.

    At the time of writing, EU data were not available for April 2014 but the figures for the first six months of the season (October 2013–March 2014) report a 5 pc increase in intra-EU acquisitions and a drop of 43 pc in imports from outside the EU compared with the same period of the previous crop year. This fall in extra-EU imports seems only logical, given the good production figure for Spain.2014-07-09_olive_oil_imports

    2. TABLE OLIVES: MARKET DEVELOPMENTS
    In the first seven months of the 2013/14 crop year (October 2013–April 2014) table olive imports by the five countries listed in the table below fell by 3.4 pc overall versus the same period of 2012/13, going down from 215 908.4 t to 208 547.1 t. Itemised scrutiny shows imports went up in Australia (+2 pc) and the United States (+1 pc) while they remained virtually unchanged in Canada and they dropped in Russia (-12 pc) and Brazil (-4 pc). Imports into Brazil have recovered, however, in the last two months.

    The EU data for April 2014 were not available when writing this newsletter but in the first six months of the crop year, intra-EU acquisitions dropped by 9 pc while imports from non-EU countries increased by 10 pc.2014-07-09_table_olives
    International Olive Council Market Newsletter No 84 – June 2014

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    1. OLIVE OIL: MARKET DEVELOPMENTS If imports in April 2014 are compared with the figures for the same month a year earlier, it emerges that all the key markets are picking up and recording growth ranging from +8.7 pc in Australia to +37.2 pc in the United States and +137.8 pc... 
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  • Spanish olive oil exports in the first half of 2013/14

    Spain’s bumper harvest this season is making itself felt in the aggregate of its olive oil exports to countries outside the EU plus deliveries inside the EU, which together totalled 562 824 t in the first six months of the crop year (October 2013–March 2014), thus showing 64 pc growth on the same period in 2012/13.

    Intra-EU deliveries of Spanish olive oil amounted alone to 401 725 t.

    Ninety-two per cent of this tonnage has gone to Italy (247 863 t, i.e. +144.5 pc), 57 761 t to Portugal (+19.6 pc), 43 375 t to France (+29.3 pc) and 22 251 t to the United Kingdom (+6 pc).

    The remainder is split among the other EU countries. Spanish exports of olive oil to non-EU countries total 161 100 t, representing an increase of 40.1 pc versus the first six months of 2012/13.

    In volume terms exports to the United States have increased 140 pc, totaling 58 650 t, as have exports to Japan (+24.5 pc), Australia (+24.9 pc), Russia (+38.9 pc) and other countries with smaller volumes. Exports have only fallen to China (-29.4 pc) and Brazil (-34.2 pc).

    International Olive Council Market Newsletter No 84 – June 2014

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    Spain’s bumper harvest this season is making itself felt in the aggregate of its olive oil exports to countries outside the EU plus deliveries inside the EU, which together totalled 562 824 t in the first six months of the crop year (October 2013–March 2014), thus showing... 
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  • IOC Report: Table olive market progress in 2013/14

    According to the provisional figures for the 2013/14 crop year, world table olive production looks set to be
    similar to the season before, lying at around 2 511 500 t. The member countries of the IOC will produce more
    than 91 pc of world tonnage this season.

    Compared with 2012/13, the share of the EU producer countries in the IOC total will drop overall by 6 pc.

    Production will be higher in Spain (up by 16 pc to 569 800 t) and Portugal (up by 9 pc to 13 600 t) but lower (-49 pc) in Greece due to bad weather and in Italy (-45 pc). In the
    rest of the IOC Members the provisional figures point to a 4 pc increase in production versus 2012/13.

    Turkey, where table olive production has been climbing constantly over the years, is expected to produce a record
    430 000 t, equating with 5 pc growth. Output is expected to total 400 000 t in Egypt (-12 pc), 168 500 t in
    Algeria (-4 pc), 140 000 t in Argentina (+133 pc), 134 000 t in Syria (no change), 100 000 t in Morocco (no
    change), 68 000 t in Iran (+74 pc) and 25 000 t in Jordan (-11 pc). Production by non-IOC member countries
    will be at around the same level as the season before (222 000 t).

    Consumption in 2013/14 is expected to be slightly down on the season before while exports are lower than
    imports (Table 1). Section I.2 gives more information about table olive imports in 2013/14.

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    International Olive Council Market Newsletter No 84 – June 2014

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    According to the provisional figures for the 2013/14 crop year, world table olive production looks set to be similar to the season before, lying at around 2 511 500 t. The member countries of the IOC will produce more than 91 pc of world tonnage this season. Compared with 2012/13,... 
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