Daily Archives: May 13, 2015

  • We welcome new Greek EVOO brand 39/22

    Great Stories P.C. is a newly established company based in P.Faliro – Athens- Greece. Our brand name 39/22 marks the coordinates of the marvelous Greek landscape and as so, defines the origin of our products, coming from the exciting and rich Greek foodscape. We offer selected premium Greek products. One of these is olive oil..

    Company brand philosophy goes beyond  the promise of the finest quality in our products, to an upper level, unique in the market of primary goods. We offer to our customers diversity and possibility of choice, among the given premium quality of our products.

    Logo inspiration
    The female figures that adorn the 39/22 range of single varietal olive oils were chosen in order to emphasize the timelessness of each traditional Greek olive variety that has been part of this land for thousands of years. The design of each figure derives from ancient Cycladic, Archaic and Minoan female statuaries. In each of these cultures and periods, the image of the woman was used to signify the “Great Mother”, a symbol of fertility, rebirth and the continuation of life. Concepts identified with the sustainability of the Greek land.
    The wooden lids of the tin containers were chosen as a direct reference to the origin of the product, the tree..logo-history

    Great Stories P.C. presents us the different varieties of Monovarietal Extra Virgin Olive Oil, each of which having unique characteristics.
    Choose the one that best fits your senses, your character and your nutritional needs…and you will be rewarded by any choice!!

    Athenolia Variety
    The charismatic hilly olive groves of Laconia, the sensitive tree, the loving care of its grower. In Athenolia olive oil, you will definitely trace the effort that goes into it. A greenly, fruity flavour typical of an early harvest, with dominant notes of apple, ripe banana and spices. Lightly bitter and medium pungent, full-bodied. Well-balanced with a good aftertaste.Athenolia olive oil has a unique character that rewards your choice!

    Koroneiki Variety
    The fresh sea breeze that enfolds the Argolian olive groves, the mild winters that raise them, the strength of the tiny fruit; all of this will reach your palate in the rich oil from the famous Koroneiki variety.
    Greenly and fruity characteristics, typical of an early harvest. Excellent balance of taste with dominant flavours of apple, freshly-cut grass and citrus fruits. Lightly bitter, moderately pungent with a rich mouthfeel. Strong and long persistent aftertaste.
    This is the special character of Koroneiki olive oil.

    Manaki Variety
    The blessed Argolian land, the October harvest, the preceding mild winter: one drop of Manaki olive oil is enough to prove its noble origins.
    Rich, greenly and fruity characteristics, typical of an early harvest. High aroma complexity with notes of citrus fruits, flowers, herbs and tomato leaves. Lightly bitter and pungent with a very pleasant and smooth mouthfeel.
    Balanced and rich even when cooked, Manaki olive oil brings color to your plate.

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    Contact information:
    3922Great Stories P.C. ∕ Selected Premium Greek Products
    33, Ivis Athanasiadou str. ∕ 17 561 P.Faliro, Athens, Greece
    T. +30 210 98 83 336. ∕  F. +30 210 98 83 338
    M. +30 6972 999576 ∕    E. komatasl@39-22.gr
    W. http://www.39-22.gr

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    Great Stories P.C. is a newly established company based in P.Faliro – Athens- Greece. Our brand name 39/22 marks the coordinates of the marvelous Greek landscape and as so, defines the origin of our products, coming from the exciting and rich Greek foodscape. We offer selected... 
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  • Extra Virgin & Refined 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 tracked in Graphs 2 and 4. It is not for the IOC to judge whether these price levels reflect an adequate balance between production costs along the supply chain and the prices that consumers are prepared to pay in their domestic currency to continue consuming olive oil but they are a concern that all the players will no doubt take into account for the long-term sustainable equilibrium and development of the sector

    Extra virgin olive oil: Producer prices in Spain started to rise constantly in the second half of 2014. After breaking the three-euro barrier in the second week of December 2014, they continued on their upward trajectory with some minor fluctuations until they reached €3.41/kg in the last week of April 2015, the highest level yet during the period plotted in Graph 1. This is 69 pc higher than a year earlier and 74 pc above the low recorded in the third week of May 2014 (€1.96/kg).

    Italy: In recent months, producer prices in Italy have been on a very clear upward trend. In the week from 10 to 16 November 2014, they hit the highest level of both the period under review and the last decade, reaching €6.79/kg. After decreasing slightly in the second last week of December 2014 prices switched back upwards. After some small dips, they remained stable for three weeks and were lying at €5.94/kg at the end of April 2015, i.e. 72 pc higher than a year earlier and 125 pc more than the low recorded in the second week of December 2013 (€2.64/kg). Graph 2 shows how the monthly prices of extra virgin olive oil have behaved in recent crop years.

    Greece: Prices have recently been high, breaking the three-euro/kg barrier in the third week of January 2015; after remaining stable for some weeks, they were lying at around €2.99/kg in the last week of April 2015, +17 pc higher than the same period a season earlier.

    Tunisia: Towards the end of December 2014, producers were paid €2.73/kg for their extra virgin olive oil. Prices held steady for a while but then started to move upwards in the first week of January 2015. After some small dips in recent weeks, they again peaked at the highest level of the period under review, reaching €3.23/kg at the end of April 2015, equating with period-on-period growth of +34 pc. For the time being, the outcome of the law of supply and demand is very clear. It will be interesting to see how the expectations for the next crop year will slowly start to make themselves felt as flowering begins this month.

    Refined olive oil: After keeping to the same trend, producer prices for refined olive oil in Spain and Italy appeared to be drifting apart in recent weeks but have now shifted back into position with each other and reached the highest levels yet in the period analyzed. In Spain they were standing at €2.93/kg at the end of April 2015, up by 67 pc on the same period of the preceding crop year.

    In Italy prices stood at €3.01/kg at the end of April 2015, translating into a period-on-period increase of 55 pc which restores Italian prices to their usual position above Spanish prices.

    No price data are available for this product category in Greece. At the end of April 2015, the price of refined olive oil (€2.93/kg) and extra virgin olive oil (€3.41/kg ) differed by €0.48/kg in Spain. In Italy, the difference in price between the two categories is considerably wider (€2.93/kg – Graph 3). 1   2

    3-4Source: International Olive Council Newsletter No 93–April 2015

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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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  • WORLD MARKET for OLIVE OIL & TABLE OLIVES - UPDATE on the START of the 2014/15 CROP YEAR

    For the first five months of the 2014/15 crop year (October 2014–February 2015), the figures for trade in olive oil (customs heading 15.09) and olive pomace oil (customs heading 15.10) in the countries listed in the table show year-on-year import increases of +7 pc in Brazil, +5 pc in the United States where the strong import growth in February 2015 made up for the drops in December 14 and January 15, and +2 pc in Japan despite the 14 pc reduction in imports in February 15.

    2015-05-13_olive_oil_imports

    In contrast, imports were lower in Russia (−5 pc) owing to a switch of trend as of December 14, as well as in Australia and Canada (−2 pc each). In the case of Australia, imports started to fall in November 14 while in Canada they decreased in October 14 and January 15 and the decreases were not offset by the rises recorded in November and December 14 and February 15.

    Imports into China were lying at a similar level as in the same five-month period of 2013/14 although a monthly breakdown points to increases in November 14 and February 15 alternating with decreases in the other months. Neither the January nor the February 2015 data were available for the EU at the time of publication but the data for the first months of 2014/15 show an increase of 18 pc in intra-EU acquisitions and 8 pc in extra-EU imports compared with the same period a season earlier.

    Owing to the hefty drop in Spain and Italy’s output, imports from outside the EU will probably be considerably higher than last season, particularly imports from Tunisia where the harvest is much higher than last year (this can be seen in the 27.6 pc increase recorded in December even before the change in the EU regulation on the tariff quota at zero-rate duty).

    TABLE OLIVES: UPDATE ON 2014/15
    In the first five months of the 2014/15 crop year, i.e. from October 2014 to February 2015, table olive imports (see table below) were higher in Brazil (+5 pc), the United States (+5 pc) and Russia (+1 pc) than in the same period a year earlier; note the rise in US table olive imports as of December 14 and in Brazilian imports as of January 15.

    2015-05-13_table_olives_import

    Imports moved in the opposite direction in Australia, dropping by 17 pc since November 14, and Canada (−2pc).

    At the time of publication, the data for January and February 2015 were not available for the EU but in the first three months of the 2014/15 season, intra-EU acquisitions increased 2 pc as of December 14 and extra-EU imports rose 30 pc from the start of the season compared with the same period of 2013/14.

    Source: International Olive Council Newsletter No 93–April 2015

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    For the first five months of the 2014/15 crop year (October 2014–February 2015), the figures for trade in olive oil (customs heading 15.09) and olive pomace oil (customs heading 15.10) in the countries listed in the table show year-on-year import increases of +7 pc in Brazil,... 
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  • Focus on OLIVE OIL IMPORT TRENDS IN CHINA

    Aggregate imports into China under headings 15.09 (virgin, refined and blends) and 15.10 (olive pomace oils) recorded strong growth from 2001/02 until 2011/12 (Chart 3), when they peaked at 45 986 t.

    But in 2012/13 and 2013/14 imports decreased by 6 pc and 15 pc respectively compared with the immediately preceding crop years.

    Analysis of the monthly data (Chart 4) reveals that import volumes were highest in the starting months of the crop year (November, December and January) and then dropped sharply in February. Imports in the first five months ofthe current 2014/15 crop year, i.e. from October 2014 to February 2015 were similar to season-before levels.

    When itemized by country of origin, it transpires that 88 pc of imports in 2013/14 came from EU countries. Again Spain was the lead exporter (61 pc of total), with Italy(23 pc) and Greece (4 pc) coming up behind. The remaining 12 pc was imported from Tunisia (4 pc), Turkey (3 pc), Morocco (2 pc) and Australia (2 pc), leaving 1 pc for all the other countries.

    Itemization by grade shows that 82 pc of all imports were under customs heading 15.09.10 (virgin olive oils),

    china_olive_oil_trend

    Source: International Olive Council Newsletter No 93–April 2015

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    Aggregate imports into China under headings 15.09 (virgin, refined and blends) and 15.10 (olive pomace oils) recorded strong growth from 2001/02 until 2011/12 (Chart 3), when they peaked at 45 986 t. But in 2012/13 and 2013/14 imports decreased by 6 pc and 15 pc respectively... 
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  • 2

    Focus on OLIVE OIL IMPORT TRENDS IN RUSSIA

    According to latest report from International Olive Council, Russian imports of olive oil and olive pomace oil grew at a constant rate between 2000/01 and 2013/14 when they rose from 3 062 t to 34 814 t (Chart 1).

    The only exceptions were 2005/06 and 2008/09 when the level dropped only to rally the next crop year.

    In 2013/14, imports were 7 pc higher than the season before. Ninety-seven per cent of imports came from the European Union, headed by Spain (56% of total), with Italy (30 pc), Greece (9 pc) and Portugal (1 pc) next in line.

    The origin of the remaining 3 pc of Russian imports was Tunisia (2 pc) and Turkey (1 pc).

    Broken down by grade, 69 pc was imported under customs heading 15.09.10, which groups together extra virgin, virgin and ordinary virgin olive oil plus lampante virgin olive oil not fit for human consumption without refining.

    A further 18 pc entered the country under customs heading 15.09.90, which is for refined olive oil plus olive oil, i.e. blends of refined olive oil with extra virgin, virgin or ordinary virgin olive oil.

    The last 13 pc is made up of imports under customs heading 15.10, which encompasses refined olive pomace oil and the grade known as olive pomace oil, made up of blends of refined olive pomace oil with extra, virgin or ordinary virgin olive oil.

    Chart 2 plots the movements in oil imports by customs heading. It can be observed that over the three consecutive crop years from 2010/11 to 2012/13, the volumes imported under headings 15.09.90 and 15.10.00 were the same whereas imports under 15.09.10 continued moving on the upward trend recorded since 2008/09.

    olive_oil_russia
    Source: International Olive Council Newsletter No 93–April 2015

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    According to latest report from International Olive Council, Russian imports of olive oil and olive pomace oil grew at a constant rate between 2000/01 and 2013/14 when they rose from 3 062 t to 34 814 t (Chart 1). The only exceptions were 2005/06 and 2008/09 when the level dropped... 
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