Daily Archives: January 14, 2015

  • Expert Study: How much should cost extra virgin olive oil?

    The world olive oil sector generates a turnover between 6 500 and 11 000 million euros per crop year and provides a livelihood for more 30 million people in 7 million households. Olives are grown on 11 million hectares of land in 47 producer countries dotted across the five continents.

    At present, olive oil is consumed in more than 160 countries.

    According to the data for the 2012 crop year, 3.1 million tonnes of olive oil are produced and consumed compared with 184 million tonnes of all edible oils and fats, of which 24 million are of animal origin. Put differently, olive oil accounts for 1.7 pc of all edible vegetable and animal fats.

    These figures show that world olive oil production is a strategic economic sector and an influential player in the international arena. It is also a sector where production and consumption have their own idiosyncratic characteristics.

    The objective of the five-part study has been to ascertain the cost of producing one kilogram of virgin olive oil, expressed in euros, in different olive cultivation systems. The first part deals with the methodology and covers the analysis of the different cultivation systems proposed, the preparation of the survey questionnaires, the analysis of the results and other aspects. A description is then given of olive oil production in the participant countries in the study on the basis of a series of figures permitting a comprehensive sectoral diagnosis.

    The first step was to classify world olive growing into seven different cultivation systems:

    S1: Traditional rainfed on steep slopes
    S2: Traditional irrigated on steep slopes
    S3: Traditional rainfed on moderate slopes
    S4: Traditional irrigated on moderate slopes
    S5: Intensive rainfed
    S6: Intensive irrigated
    S7: Superintensive irrigated

    VN:F [1.9.22_1171]
    Rating: 4.2/10 (47 votes cast)
    VN:F [1.9.22_1171]
    Rating: 0 (from 10 votes)
    The world olive oil sector generates a turnover between 6 500 and 11 000 million euros per crop year and provides a livelihood for more 30 million people in 7 million households. Olives are grown on 11 million hectares of land in 47 producer countries dotted across the five continents. At... 
    Read More →
  • Liter of virgin olive oil could rise 50 percent in price, experts say

    The price of a liter of Italian olive oil rose 121 percent year-on-year in December 2014, according to a recent report by researchers at the commodities analytics firm Mintec.

    Mintec predicts a rise of up to 50 percent in coming months for extra-virgin olive oil in most markets.

    Globally, olive oil of every type has risen in price about 40 percent in the past year, the report says, and Mintec expects the price to keep going up in 2015.

    What will this cost Turkish consumers?

    The price is set to rise by up to 20 Turkish lira per liter, according to research by the consultancy Olive Oil World.

    This raises critical issues for Turkish producers. The head of the Union of Aegean Olive and Olive Oil Exporters, Gurkan Renkilag, told The Anadolu Agency that Turkey risks losing foreign markets for its olive oil.

    “You can buy olive oil for less than €3.62 from producers in Turkey,” he added. That makes Turkish olive oil prices one euro higher than those of other European markets.

    Article source

    VN:F [1.9.22_1171]
    Rating: 4.6/10 (63 votes cast)
    VN:F [1.9.22_1171]
    Rating: +8 (from 22 votes)
    The price of a liter of Italian olive oil rose 121 percent year-on-year in December 2014, according to a recent report by researchers at the commodities analytics firm Mintec. Mintec predicts a rise of up to 50 percent in coming months for extra-virgin olive oil in most markets.... 
    Read More →