As Americans have tried to cut fat, their intake of olive oil has steadily increased. Scientists believe the oil can help lower cholesterol and play an important part of a healthy diet.

High LDL cholesterol levels contribute to plaque build-up in arteries and can lead to heart attacks and strokes. Generally, a low-fat diet and exercise have been considered two ways to help lower cholesterol levels and improve good health. However, the fats in olive oil are considered better than other fats.

The Mayo Clinic calls olive oil one of the top five foods that can “lower your numbers.” Doctors point to the antioxidants in olive oil, which can reduce bad cholesterol without compromising good cholesterol. Mayo recommends choosing extra virgin oil because it is more natural.

The Olive Oil Times describes extra virgin olive oil as essentially fruit juice, since it is squeezed from olives. The main difference between “extra virgin” and “virgin” is that extra virgin generally has better flavor. Taste is based on the grower and region of the world in which the olives are grown.

However, the United States Department of Agriculture actually allows more of the cholesterol lowering oleic acids in virgin olive oil than extra virgin. While the lower acidity improves flavor and is considered to be of overall better quality, health experts point to acid content as one of the main reasons olive oil has cholesterol lowering properties.

It may be better to choose the virgin varieties, which still have good taste, but are allowed to have up to 2 percent oleic acid content. Virgin olive oils have still been through a natural process and are not refined.

A good rule of thumb may be to use virgin olive oils for cooking and extra virgin olive oils for dipping and salad dressings.

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Greek olive oil exports have increased, but more bottling and branding could bring Greece money desperately needed during the economic crisis.

The world is wondering whether the Greek government will come to an agreement with its creditors that will enable the country to avoid defaulting on its debts and stay in the Eurozone. With an economic crisis continuing, billions of euros have been withdrawn from Greek banks in recent months, and a quarter of the workforce remains unemployed. No one is sure what will happen to the economy, which is back in recession after slight signs of improvement last year.

Like other Greeks, olive farmers are looking for steady income. Many earn ready money by selling their oil in bulk, a fact almost universally deplored by industry commentators. According to Ekathemerini, a recent report by the National Bank of Greece claims that standardization of Greek olive oil could bring the economy an additional €250 million per year from exports, plus another €85 million for the state from sales tax. Only about 27 percent of Greek olive oil is standardized to date versus 50 percent in Spain and 80 percent in Italy, although far more Greek olive oil is extra virgin (80 percent, compared with 65 percent in Italy and 30 percent in Spain, as the Greek version of the article notes).

The creative center of Matera Casa Cava (Italy) will host days 12th and 13th of June the event “Extra virgin olive oil made as never before. Cold kneading, separation and reuse of products, our innovation at your service,” organized by the Associazione Italiana Frantoiani Oleari (AIFO) in collaboration with Alfa Laval.

The conference will be attended by a large group of experts among them Luca Braia, adviser for Agriculture and Forestry Policy of the Basilicata Region; and Piero Gonnelli, President of AIFO. The opening ceremony will be on Friday and presented by both.

As for the program for 13th June, AIFO partners Assembly will be held.

 Capriata, one of the most typical dishes of Matera, is what you absolutely have to try while in the city. It’s made with legumes, wheat, spelt, chick peas, potatoes, broad beans, peas, lentils and it’s perfect with a glass of red wine.
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In Vietnam, where per capita income is $ 2,000 per person per year, olive oil is considered a food reinforcement, and it is consumed almost as a medicione, ie, a tablespoon a day. Thus, despite the penetration of the product, it fails to account for 1% of the total sales volume of fats and oils, a market dominated mostly by vegetable oils.

These are some of the findings resulting in a report on the market for olive oil in Vietnam developed by ICEX Export and Investment which highlights that, despite being a well known and appreciated product, it faces two major constraints: price and distribution channel.

Furthermore, according to the document, public and legal administrations are conducive to the entry and consumption of olive oil and does not charge any tariff or para-tariff regulation for heavy sales agents.

This country is also devoted to health, beauty and lifestyle of the country, and through its Government it recommends the use of olive juice, preferably virgin olive oil from Spain. However, its use is a significant sacrifice for families because of its price.

Distribution channels
Regarding distribution channels, these are now in the first phase of transformation from traditional to modern channels including supermarkets, hypermarkets and convenience stores. In fact, modern channels represents 5% of the total distribution in Vietnam, although this is not an obstacle to be the main gateway for food imports.

In this sense, the report suggests the existence of a bottleneck “that is rapidly saturated when a product is already inside the distributor’s catalog in sufficient quantity.” This is the case of olive oil, in which the supply overwhelms the small number of importers.

Thus, although there is a significant demand for liquid gold, international (mostly Spanish) tender outweighs. In this situation, the importer ends up being responsible for controlling the market access which, in many cases, mean that new firms expel the already established brands.

This means that in Vietnam, where Spain dominates 50% of the sector, the entry of new Spanish olive oils is carried out at the expense of kicking out others already in their place. Therefore, ICEX warns that, as long as this bottleneck that restricts the number of operators and sales exists, Spanish companies must be aware of the increased risk of perverse cannibalism.

ICEX recommends an entry strategy that should focus on price, packaging and labeling, as well as the ability to complement other products such as preserves or sauces; but in no case with wine.

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The second edition of the International Olive Council’s Mario Solinas Quality Award 2015 drew 37 entries from Argentina (2), Australia (1), Chile (2), Greece (1), Italy (2), Peru (1), Portugal (20), Spain (7) and Uruguay (1).

Individual producers, producers’ associations or packers in any producer country could enter extra virgin olive oils for the competition. According to the competition rules released in June 2014, the entries for this second edition were classified in one of the following sections on the basis of the median intensity of their fruitiness: Green fruitiness, Intense fruitiness, Medium fruitiness, Mild fruitiness and Ripe fruitiness.

All the entries were assessed by the international panel of judges for this second edition who selected the six oils with the highest scores in each section. Next, the international panel selected the winner of the first prize in each section according to a special 100-point score sheet which marks the oils for their olfactory, gustatory and retronasal sensations and their harmony, complexity and persistence. The judges also proposed the second and third prize winners and finalists except in the intense green fruitiness section for which no third prize or finalist was proposed, and the ripe fruitiness section for which no second prize, third prize or finalist was proposed.

PRIZE WINNERS

First prize

Intense green fruitiness:
Azienda Agricola Leone Sabino, Canosa di Puglia (Barletta) – Italy

Medium green fruitiness:
Murtigão – Sociedade Agricola, S.A., Elvas – Portugal

Mild green fruitiness:
Victor Guedes, S.A., Abrantes – Portugal

Ripe fruitiness:
Celso Hernâni Gastalho Madeira, Vilar de Amargo – Portugal

Second prize

Intense green fruitiness:
Torres Morente, S.A., Escúzar (Granada) – Spain

Medium green fruitiness:
Frantoio Romano, Ponte (Benevento) – Italy

Mild green fruitiness:
Sociedade Agrícola Vale do Ouro, S.A., Ferreira do Alentejo – Portugal

Third prize

Medium green fruitiness:
Castillo de Canena Olive Juice, S.L., Canena (Jaén) – Spain

Mild green fruitiness:
Elaia Lagar – Produção e Comercialização de Azeites, S. A., Ferreira do Alentejo – Portugal

FINALISTS

Medium green fruitiness:
•1st – Jerónimo Pedro Mendonça de Abreu e Lima, Mirandela – Portugal
•2nd – Boundary Bend Olives, Victoria – Australia 3rd Sociedad Exportadora Olivares de Quepo, S.A., Talca – Chile

Mild green fruitiness:
•1st – Sovena – Portugal Consumer Goods, S.A., Algés – Portugal
•2nd – Oasis Olives, S.A.C., Lima – Peru
•3rd – Filipe José de Albuquerque Roboredo Madeira, Vilar de Amargo – Portugal

All the competitors can now break the seal of the tank holding the batch of oil they entered for the competition.

The winners are allowed to announce the prize on the labels of the extra virgin olive oil belonging to the same batch as the winning sample and can obtain a special logo from the Executive Secretariat for this purpose. The Awards ceremony will be held on 29 June 2015 during the Fancy Food Show in New York (United States).