Daily Archives: September 9, 2016

  • Olive Oil Producers Prices

    Graph 1 tracks weekly producer prices for extra virgin olive oil in the three main producer countries of the EU and Tunisia. Graph 3 tracks the weekly producer prices for refined virgin olive oil in the three main producer countries in the EU.

    Graphs 2 and 4 track the monthly prices for these product categories.

    Extra virgin olive oil – Producer prices in Spain remained relatively stable over the last few weeks, standing at 3.13€/kg in the last week of August , which is a 25% year-on-year decrease. If we compare this price to the minimum price of the third week in May 2014 (1,96€/kg), it represents a 60% increase, and a decrease of 26%
    compared to the maximum price (4.23€/kg) (Graph 1).

    Italy – Producer prices in Italy had been stable for the last three months but started to increase in mid-August, to reach 3.70€/kg at the end of August, which is a 33% decrease compared to the same period the previous year.

    Graph 2 tracks the monthly prices of extra virgin olive oil in recent crop years.

    Greece – Prices in Greece had also levelled out over the last few months but, as in the other markets, they had started to rise again in the last few weeks to reach 2.95€/kg at the end of August 2016, which is a 17% decrease compared to the same period year-on-year. Tunisia – Contrary to the other markets, prices in Tunisia fell over the last few weeks to reach 2.79€/kg at the end of August 2016, which is a 32% decrease compared to the same period last year.

    Refined olive oil: Producer prices for refined olive oil in Spain and Italy have moved in the same direction as the price of extra virgin olive oil. In Spain, following an initial sharp decline, prices began to climb in the third week of January 2016, and after falling again, increased as of the first week in July to reach 2.96€/kg at the end of August 2016, which was a 21% year-on-year decrease. In Italy the prices followed the same trend as in Spain to reach 3.01€/kg at the end of August 2016, which represented a 23% year-on-year decrease. There are no data available for this product category in Greece.
    At the end of August, the price differential between refined olive oil (2.96€/kg) and extra virgin oil (3.13€/kg) was of 1.17€/kg in Spain, and was higher in Italy at 0.69€/Kg
    (Graph 3).
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    IOC MARKET NEWSLETTER No. 107 – July-August 2016

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    Graph 1 tracks weekly producer prices for extra virgin olive oil in the three main producer countries of the EU and Tunisia. Graph 3 tracks the weekly producer prices for refined virgin olive oil in the three main producer countries in the EU. Graphs 2 and 4 track the monthly... 
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  • World Trade in Olive Oil and Table Olives 2015/16

    Imports in olive oil and olive-pomace oil in the first nine months of the 2015/16 crop year (October 2015 – June 2016) in the markets listed in the table below reported a year-on-year increase of 12 % in Australia; 10% in China and 5% in the United States. Imports decreased in Brazil by 33%, in Japan by 11% and in Russia by 4%. Data for Canada is not available for the month of June, but in the first eight months of the campaign, imports increased by 2%.
    2016-09-09_1940EU1 figures for the first eight months of the current crop year (October 2015 – May 2016) indicate that intra-EU
    acquisitions fell by 10% and imports from outside the EU fell by 47% compared to the same period of the previous
    crop year.

    2. TABLE OLIVES- 2015/16
    In the first nine months of the 2015/16 crop year (October 2015 – June 2016) imports increased by 6% in Australia and 2% in Canada, compared to the same period of the preceding crop year. However, imports decreased in all the other markets, falling by 12% in Brazil, 5% in Russia and 3% in the United States.
    2016-09-09_table_olivesEU2 figures for the first eight months of the 2015/16 crop year (October 2015 – May 2016) indicate that intra-EU acquisitions increased by 4% and that extra-EU imports increased by 3%, compared to the same period of the previous crop year.

    IOC MARKET NEWSLETTER No. 107 – July-August 2016

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    Imports in olive oil and olive-pomace oil in the first nine months of the 2015/16 crop year (October 2015 – June 2016) in the markets listed in the table below reported a year-on-year increase of 12 % in Australia; 10% in China and 5% in the United States. Imports decreased... 
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  • Olive growing in China

    According to official sources, the Olive tree (Olea europea) was introduced into China over 40 years ago. However, the crop only started to expand at the beginning of the millennium. The areas of greatest potential for the development of olive growing are Gansu, Shaanxi and Sichuan. China currently has an olive hectarage of 86000 ha., of which 43% is under irrigation. More than 27% of the current surface area is under production. The average annual planting rate is of approximately 14 000 ha of olive trees.
    china-provinces-map-600The development of the olive sector is playing an important role in China, enabling more than 3200 families and 15 000 people to improve their living conditions. It also plays an important environmental role through the extension of olive orchards to the banks of the rivers Bailong and Baishui.

    China’s production infrastructure currently comprises 25 oil mills. In the 2015/2016 crop year it produced approximately 5000 t of olive oil, which is a 75% increase compared to the previous crop year. Extra virgin olive oilaccounted for 85% of production, and virgin olive oil accounted for 15%.

    The graph shows the increase of imports to China, indicating exponential growth in the first crop years, with a 792% increase in imports over the last 10 years (2004/05-2014/15).

    Despite a decline in the last three crop years, a 10% year-on-year increase has been observed over the first nine months of the current 2015/16 crop year. Ninety-six percent of total imports come from European production countries, led by Spain with 81% of the total, and followed by Italy with 13%, and Greece with 2%. In this regard, it should be noted that China is the second most important food market for the European Union.

    The remaining 4% of imports come from other countries, mainly Australia, Morocco, Tunisia and Turkey.
    2016-09-09_1922It should also be noted that 78% of China’s imports come from the extra virgin and virgin olive oil category (150910); 8% are from the olive oil category (150990) and 14% are the olive-pomace oil category (151000).

    Source: IOC MARKET NEWSLETTERNo. 107 – July-August 2016

    VN:F [1.9.22_1171]
    Rating: 3.3/10 (121 votes cast)
    VN:F [1.9.22_1171]
    Rating: +2 (from 46 votes)
    According to official sources, the Olive tree (Olea europea) was introduced into China over 40 years ago. However, the crop only started to expand at the beginning of the millennium. The areas of greatest potential for the development of olive growing are Gansu, Shaanxi and Sichuan.... 
    Read More →