Daily Archives: February 26, 2015

  • Deoleo sounded warning over impact of spike in commodity prices on sector

    Spanish olive oil producer Deoleo managed to increase its core earnings in 2014 despite a leap in commodity prices in the second half of the year.

    Deoleo booked a net loss of EUR74m (US$84.1m) amid a series of non-recurring expenses, which the company had flagged throughout the year.

    However, the Bertolli and Carbonell olive oil owner pointed to a 1.6% rise in EBITDA to EUR81.4m. It also said its EBITDA margin increased to 10.5% as olive oil prices jumped by a half.

    The company’s turnover hit EUR773.2m, down from EUR809m in 2013. In volume terms, sales rose 2%. Deoleo said it retained its market share in its main markets of Spain, Italy and the US.

    The group had a warning about trading conditions in the sector. “The results for 2014 show that profitability was consolidated, despite the difficulties created by the sharp rise in the price of olive oil at source in the latter half of the year. This situation adds a very detrimental practice to the entire value chain – selling at a loss. This damages margins significantly and seriously threatens the future of the sector.”

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    Spanish olive oil producer Deoleo managed to increase its core earnings in 2014 despite a leap in commodity prices in the second half of the year. Deoleo booked a net loss of EUR74m (US$84.1m) amid a series of non-recurring expenses, which the company had flagged throughout the... 
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  • USAID Program to improve olive oil productivity in Lebanon

    The Lebanon Industry Value Chain Development (LIVCD) project, funded by the United States Agency for International Development (USAID), organized a closing workshop of the Mechanical Harvesting Program within the Olive Oil Value Chain.

    The goal of the Mechanical Harvesting Program was to improve olive oil productivity at the orchard level, and decrease harvest and production costs for 1,000 olive oil producers across Lebanon.

    Representatives from 18 partner cooperatives along with 60 olive producers from the South, North, Mount Lebanon, and Bekaa governorates attended the workshop.

    The project introduced new technology represented in battery-operated harvesters that enable farmers to save time and reduce harvesting costs by about 50%.

    The new technology also protects trees from the damage that frequently occurs with traditional harvesting methods. In addition to the mechanical harvesters, the project introduced widespread use of plastic crates instead of bags, which maintains olive quality and has a positive impact on the quality of the olive oil.

    The project encouraged the participation of youth and women and created 73 jobs in rural areas of Lebanon, thereby improving rural communities’ livelihoods.

    About LIVCD

    With funding from the presidential initiative “Feed the Future,” the Lebanon Industry Value Chain Development (LIVCD) project is a five year, $41.7 million USAID project to improve Lebanon’s economic stability and generate income for small business while creating jobs for the rural population, in particular women and youth.

    The project creates ties between farmers, producers, suppliers, processors, service providers, traders, transporters, retailers, packers, distributors, exporters, and consumers.

    As part of its objectives, LIVCD plans to upgrade and increase the competitiveness of the Olive Oil Value Chain in Lebanon and abroad.

    The LIVICD project is funded under the United States Government’s assistance program to Lebanon through the United States Agency for International Development (USAID).

    USAID engages with partners to help increase access to education, improve water and wastewater services, ensure good governance, enhance academic opportunity, particularly in poor, underserved areas, and protect the environment.

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    The Lebanon Industry Value Chain Development (LIVCD) project, funded by the United States Agency for International Development (USAID), organized a closing workshop of the Mechanical Harvesting Program within the Olive Oil Value Chain. The goal of the Mechanical Harvesting Program... 
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