Daily Archives: January 3, 2015

  • Producers are expected to generate 2.39m tons of olive oil in 2014/15

    Supply in Italy and Spain has fallen dramatically after adverse weather this summer. Olive oil prices have hit a decade-long high as poor harvests in the world’s two biggest producers drive up its scarcity.

    Spain and Italy saw 54 per cent and 34 per cent falls in production respectively due to excessively hot and wet weather, constricting supply.

    Pietro Sandali, head of the Italian olive growers consortium, Unaprol, told the Guardian newspaper that the 2014 harvest had been “the worst year in memory”.

    The International Olive Council predicted last month that production at the end of this financial year would fall to its lowest level in 15 years.

    Producers are expected to generate 2.39m tons of olive oil in 2014/15, compared to 3.27m tons of oil produced in 2013/2014.

    Production is also expected to fall below consumption and eat into existing stock and reserves.

    Wholesale bulk prices hit $4281.95 per metric ton, according to oliveoilmarket.eu, up from $3,613.35 at the end of 2013. This previous level which was itself a dramatic increase on prices in early 2012.

    Two exceptions to the supply shortfall were in Tunisia and Greece.

    In Greece, cash strapped producers have sold their product off at rock-bottom prices in order to raise funds to continue operating, industry publication The Olive Oil Times reports.

    The fall in prices is tied to the economic uncertainty in the country, where banks are loathe to extend credit amid the spectre of the eurozone crisis.

    Producers are using revenue from increased sales to fund expansion and production costs, which would normally be met by credit.

    In Tunisia, a bumper harvest caused by perfect weather conditions has led to production twice the volume of last year’s haul. Producers in the North African country are looking to link up with European buyers.

    Article Source

    VN:F [1.9.22_1171]
    Rating: 4.1/10 (29 votes cast)
    VN:F [1.9.22_1171]
    Rating: +1 (from 17 votes)
    Supply in Italy and Spain has fallen dramatically after adverse weather this summer. Olive oil prices have hit a decade-long high as poor harvests in the world’s two biggest producers drive up its scarcity. Spain and Italy saw 54 per cent and 34 per cent falls in production... 
    Read More →
  • Olive oil is common in diet tips of the world's longest living communities

    Low meat, high vege diet with olive oil and active lifestyle common in long-living communities

    The season of overindulgence is coming to a close: you’ve consumed your bodyweight in chocolate and your sole form of exercise has consisted of lifting a champagne glass while prostrate on the sofa.

    But, before you embark on January atonement, why not consider these simple diet tips from the world’s longest living communities?

    Ikaria

    Home to the largest proportion of 90-year-olds in the world, the people of Ikaria live 10 years longer than Europeans and Americans.

    With significantly lower rates of cancer, heart disease, dementia and depression, the Greek island’s mountainous terrain and limited transport force locals to remain extremely active well into their 80s and 90s. The Ikarian diet revolves around an abundance of olive oil, copious amounts of fruit and vegetables, and very little processed food.

    The inhabitants’ longevity is sometimes attributed to a mountain herbal tea containing spleenwort, purple sage, mint and rosemary.

    Okinawa

    With one of the highest life expectancies in the world, the people of Okinawa, Japan, know a thing or two about longevity. Low in calories but nutrient rich, the Okinawan diet consists largely of fish and vegetables.

    Inhabitants eat very little meat and dairy, instead opting for squid and octopus, which are thought to lower cholesterol and blood pressure due to their high levels of taurine.

    Okinawans eat more tofu and kombu seaweed than anyone else in the world and favour sweet potatoes – which are low GI and rich in antioxidants – over white.

    Sardinia

    With an unusually high proportion of centenarians, the people of Sardinia attribute their longevity to the island’s unpolluted air, stress-free lifestyle and healthy diet.

    Rich in olive oil, vegetables and nuts, the Sardinian diet is low in meat, but occasionally features lean meats and oily fish. Sardinians drink wine made from grapes rich in polyphenols and other antioxidants which are thought to decelerate the ageing process.

    Article source

    VN:F [1.9.22_1171]
    Rating: 5.6/10 (28 votes cast)
    VN:F [1.9.22_1171]
    Rating: +9 (from 15 votes)
    Low meat, high vege diet with olive oil and active lifestyle common in long-living communities The season of overindulgence is coming to a close: you’ve consumed your bodyweight in chocolate and your sole form of exercise has consisted of lifting a champagne glass while... 
    Read More →
  • The Texas Olive Growers Association & Council elected first board of directors

    Texas olive oils are becoming the toast of the culinary world and olive growers from around the state reached a milestone on Sunday, Dec. 7, when they met in Dripping Springs to elect, for the first time, a board of directors to help advocate for the booming industry.

    The Texas Olive Growers Association & Council elected board members and committee directors to advance the association’s mission to promote the growth of olive tree farming, olive oil production and olive farming education in Texas.

    John Gambini, owner of Texas Hill Country Olive Company in Dripping Springs, was elected Chairman of the Board of Directors. Gambini has been the interim director of the organization since its inception in 2013.

    Two olive oils from Gambini’s certified-organic orchard won gold and silver awards at the prestigious 2014 New York International Olive Oil Competition, leaving no doubt that Texas olives make some of the best oils in the world.

    Other board members elected are: Kerry Houston of Polo Legacy Partners LLC in Dimmit County, Rebecca Shockley of Eagle Lake Olive Orchard in Eagle Lake, Jim Kruger of Kruger’s Double O in Dripping Springs, and Gerry Wells of Victoria.

    Committee Directors include: Cathy Burnell of Lone Star Olive Ranch in Madisonville; Monte Nesbit, Extension Program Specialist at Texas A & M University; Denise Campbell of Triple C Farms in Sealy; Dan Griffith of Griffith Orchard in Bandera; and Mary Goerner of Olive View Ranch LLC in Hallettsville. “The olive industry in Texas is flourishing,” said Gambini. “We want to encourage more growers to become involved as we believe this industry is an important new agricultural crop.”

    Texas is now home to more than 80 growers and more than 400,000 olive trees. The state is the second-largest producer of olive oil in the US, behind California, but is gaining momentum in market share of US-produced olive oils.

    Article source

    VN:F [1.9.22_1171]
    Rating: 6.0/10 (17 votes cast)
    VN:F [1.9.22_1171]
    Rating: +3 (from 13 votes)
    Texas olive oils are becoming the toast of the culinary world and olive growers from around the state reached a milestone on Sunday, Dec. 7, when they met in Dripping Springs to elect, for the first time, a board of directors to help advocate for the booming industry. The Texas... 
    Read More →
  • Bay Area distributors paying about $42,000 more per truckload of premium oil

    It’s a matter of taste and there is a world of varieties when it comes to olive oil according to Nate Bradley, the owner of Amphora Lafayette olive oil shop

    From greenish to golden colors, imported or grown here in the Golden State, many Californians have a bottle or two on their kitchen shelves.

    “I try to look for California olive oils, that’s what I try to find,” said Katie Yeadon of Walnut Creek who came into Bradley’s shop for a tasting class.

    But Bradley says this year’s drought has had a big impact on California’s olive oil supply.

    “California’s down a significant amount, I think it’s about 40-50 percent,” said Bradley.

    Bradley’s family has been importing and distributing olive oil in the Bay

    Area for about 100 years. He says while California makes up less than 1 percent of the world’s total olive oil production, other countries overseas aren’t doing much better.

    According to the International Olive Council, world olive oil prices are predicted to rise due to short supply.

    Bradley says Italy’s supply is estimated to be down 70 percent this year, while Spain could be down 40-50 percent, hit by bad weather and insects.

    “A fruit fly can wipe out your entire crop and if you press an olive affected

    by the fruit fly, just a few olives can mess up the chemistry of the oil and

    make your oil completely bad,” Bradley told KTVU.

    Other major suppliers in Greece and Tunisia are having good crops this year, which should help stabilize prices, but the November harvest saw the Bradley family’s business paying $7 to $8 more per gallon, or about $42,000 more per truckload of premium oil.

    The price increases could trickle down from suppliers to consumers. The short supply could also affect quality.

    Bradley says some suppliers might decide to bottle olive oil left over from last year. He says olive oil typically has a shelf life of one year after harvest .

    “If you’re seeing a huge influx of olive oil that was harvested last year, it’s definitely not going to be as good as something that was just produced,” Bradley said.

    Good information for consumers such as Dani Johnson of Concord. “I’ll definitely be looking more at the label, the ingredients and what it has on the back,” said Johnson.

    Bradley says Europe’s second harvest of olives extends through January, and if the harvest yield is low, he says it’s likely consumers could see prices on even low-quality olive oil increase by $1-2 per bottle later in the year.

    Article source

    VN:F [1.9.22_1171]
    Rating: 6.0/10 (15 votes cast)
    VN:F [1.9.22_1171]
    Rating: +2 (from 8 votes)
    It’s a matter of taste and there is a world of varieties when it comes to olive oil according to Nate Bradley, the owner of Amphora Lafayette olive oil shop From greenish to golden colors, imported or grown here in the Golden State, many Californians have a bottle or two... 
    Read More →
  • Olive oil will increase in price as 2015 is underway

    Most everything gets more expensive with time. Knowing in advance what items are expected to see price hikes means you can stock up now.

    Deal News is a website that tracks and analyzes prices on items in a variety of categories. Based on their research, olive oil is set to be more expensive next year:

    They explain that olive growers in Italy have called 2014 their worst harvest year in memory. As a result, Italy’s olive oil output has decreased by 37%. And Spain, the top exporter to the U.S., has experienced a drought that’s expected to increase prices across the globe.

    According to NBC4 News olive oil is among the products that will probably trigger sticker shock in 2015

    NBC4 News comments: Drought conditions in Europe are expected to push up the price of this popular pantry item. Producers in Span have just weathered a very dry year, while it Italy, the olive crops have been hit by a fly infestation. The double whammy has lowered the olive oil supply, while the demand has risen by 50% over the past two decades.

    Sources: nbclosangeles and lifehacker

    VN:F [1.9.22_1171]
    Rating: 5.5/10 (25 votes cast)
    VN:F [1.9.22_1171]
    Rating: +7 (from 17 votes)
    Most everything gets more expensive with time. Knowing in advance what items are expected to see price hikes means you can stock up now. Deal News is a website that tracks and analyzes prices on items in a variety of categories. Based on their research, olive oil is set to be... 
    Read More →