Daily Archives: January 7, 2015

  • Drop in output of major producers has affected olive oil supply in India

    Importers in India are bracing themselves for a rise in olive oil prices in view of production being estimated at a nine-year low in Spain and Italy.

    The country sources about 95 per cent of its total olive oil requirement from the two European Union nations. Greece accounts for another three per cent.

    “Production is likely to be 60-65 per cent of a normal year’s output. Forecasting is tricky but our next consignment is already quoted at 18 per cent more than the last one imported two months ago,” said Aseem Soni, Director, Consumer Pack Vertical, Cargill India, which owns the Leonardo brand.

    Data published by the International Olive Council (IOC) in November pegged provisional output in the EU at 1.5 million tonnes (mt) for 2014-15, a million less than last year. Globally, production is reckoned to be 2.39 million tonnes in 2014-15, the lowest since 1995-96.

    Spain, where drought conditions impacted autumn harvests, is expected to produce 8,25,700 tonnes of olive oil, about half of last year’s output.

    Production in Italy is likely to be 30 per cent lower at 302.5 tonnes. Price have reportedly run to a decade’s high with wholesale bulk prices hovering around $4,300/tonne earlier this week, up from the end-2013 price of $3,613.

    “There will be a time lag since it’s a new crop.Stock pipelines are depleting and replenishment will be at the higher price level,” said Yogesh Bellani, CEO, FieldFresh Foods, which sells olive oil under the Del Monte brand.

    Import duty
    Importers lamented the Centre’s recent decision to raise the import duty on crude and refined edible oils by five per cent to 7.5 per cent and 15 per cent, respectively.

    Bellani called it a “double whammy” while Leonardo’s Soni said olive oil should have been exempted.

    “We are requesting the Centre to exempt olive oil. The rationale for the duty hike was to protect Indian farmers. That’s not relevant in the case of olive oil as there’s no local production,” said Rajneesh Bhasin, President, Indian Olive Association (IOA) and also Managing Director of Borges India.

    Theolive oil market, comprising edible and cosmetic segments, was estimated at ₹400 crore in 2012.

    The IOA estimates imports between April 2014 and March 2015 at around 10,500-11,000 tonnes. Prices per litre this fiscal for refined olive oil and olive pomace variants were ₹500-600 and ₹240-300 respectively.

    “India is still a developing olive oil market and price-sensitive. The entire brunt cannot be passed on to consumers. Brands will have to strategise and price innovatively after volatility settles around late February or early March,” said Bellani.

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    Importers in India are bracing themselves for a rise in olive oil prices in view of production being estimated at a nine-year low in Spain and Italy. The country sources about 95 per cent of its total olive oil requirement from the two European Union nations. Greece accounts... 
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  • Olive Oil (virgin) - Market Report. Analysis and Forecast to 2020

    This report provides an in-depth analysis of the Global Market for Olive oil (virgin). It presents the latest data of the market value, consumption, domestic production, exports and imports, price dynamics and food balance. The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term. Profiles of the leading producers are also included.

    Countries coverage: 233 countries

    Product coverage:
    Olive oil (virgin)

    Data coverage:
    – Market value
    – Volume and dynamics of production
    – Structure of production by regions and counties
    – Key market players and their profiles
    – Volume and dynamics of exports/imports
    – Producer prices, import/export prices
    – Market trends, drivers and restaints
    – Forecast of the market dynamics in the medium term
    – Per-Capita Consumption

    Why buy this report?
    – Get the full picture of the market
    – Assess future market prospects
    – Adjust your marketing strategy

    The report will be provided within 3 working days after ordering.

    For more information please click on:
    http://www.researchandmarkets.com/publication/mcwiglh/world_olive_oil_virgin_market

    Title Index:

    Table Of Contents

    1. Introduction
    1.1 Report Description
    1.2 Research Methodology

    2. Executive Summary
    2.1 Key Findings
    2.2 Market Trends

    3. Market Overview
    3.1 Market Value
    3.2 Consuption By Regions And Countries
    3.3 Drivers And Restraints In Industry
    3.4 Market Opportunities By Countries
    3.5 Market Forecast To 2020

    4. Production
    4.1 Production, Harvested Area And Yield In 2007-2013
    4.2 Production By Regions And Countries
    4.3 Harvested Area And Yield By Regions And Countries

    5. Imports
    5.1 Imports In 2007-2013
    5.2 Imports By Regiones And Countries
    5.3 Import Prices By Countries

    6. Exports
    6.1 Exports In 2007-2013
    6.2 Exports By Regions And Countries
    6.3 Export Prices By Countries

    7. Prices And Price Development

    7.1 Producer Prices
    7.2 Producer Prices Index

    8. Profiles Of Major Producers

    Pricing:

    Electronic (Single User): EUR 1490
    Electronic (Enterprisewide): EUR 2990

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    Best Regards,

    Amy Cole
    Senior Manager
    Research and Markets Ltd
    amy.cole@researchandmarkets.com

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    This report provides an in-depth analysis of the Global Market for Olive oil (virgin). It presents the latest data of the market value, consumption, domestic production, exports and imports, price dynamics and food balance. The report shows the sales data, allowing you to identify... 
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  • La Estepa Mora Olive Oil from Argentina

    This Olive Oil, designed by Juan José Marnetti & Juan Pablo Martinez, gives consumers a sense of visual sincerity.

    The combination of a soft haze of color, scripted type, and simple illustration gives the product a homemade feel, one that is not threatening.

    It is warm and inviting, reminiscent of hot summer days picnicking under a giant oak tree.

    20150107-162242.jpg

    “A natural, traditional, and premium product, with a graphical concept that seeks to transmit and enhance these attributes. Through illustration and lettering, the tree and olives are the main characters of this story.”

    Source

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    This Olive Oil, designed by Juan José Marnetti & Juan Pablo Martinez, gives consumers a sense of visual sincerity. The combination of a soft haze of color, scripted type, and simple illustration gives the product a homemade feel, one that is not threatening. It is warm... 
    Read More →
  • Turkey’s olive oil exports have decreased by almost 50 percent

    According to Anadolu agency, Turkey’s olive oil exports have decreased by almost 50 percent in the last two months from the same period of the previous year as producers kept their products in stock with the expectation of a rise in prices, according to sector representatives.

    “Our producers are now exporting their products for almost nothing just not to lose their market share to their strong Spanish and Italian competitors,” said the head of the Aegean Olive and Olive Oil Exporters Association (EZZİB), Gürkan Renklidağ.

    After several reports claiming that production in Spain and Italy would decrease dramatically due to climatic conditions, there were expectations that prices would start to increase, convincing Turkish producers not to sell their products and wait for a rise in prices, according to sector sources.

    Turkey’s olive oil exports decreased 52 percent in the last two months from the same period of the previous year to around 3,600 tons, according to EZZİB figures. Over 7,600 tons of olive oil was exported in the previous two-month period, normally a high season for olive oil.

    “We are facing the worst export figures of the last years. We had hoped to export 8,000 tons in these two months, but we couldn’t do more than 2,000 tons,” Renklidağ said.

    He said Turkish producers could lose their new, but crucial markets.

    In Spain, which accounted for half the world’s production of all grades of olive oil last year, a toxic cocktail of scorching temperatures, drought and bacteria was expected to halve output this year.

    Article source

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    VN:F [1.9.22_1171]
    Rating: +8 (from 14 votes)
    According to Anadolu agency, Turkey’s olive oil exports have decreased by almost 50 percent in the last two months from the same period of the previous year as producers kept their products in stock with the expectation of a rise in prices, according to sector representatives.... 
    Read More →