Daily Archives: December 2, 2016

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    Producer Prices - Olive Oils

    Graph 1 tracks the weekly movements in prices paid to producers for extra virgin olive oil in the top three European producing countries and Tunisia, while Graph 3 shows the weekly changes in producer prices for refined olive oil in the main three EU producers. The monthly price movements for these grades of oil are tracked in Graphs 2 and 4.

    Extra virgin olive oil – Producer prices in Spain increased at a constant rate over the last few weeks coming in at €3.37/kg at the end of November 2016, which is a 10% year-on-year increase. If we compare this price with the maximum amount for the third week in August 2015 (€4.23/kg) it shows a 20% decrease (Graph 1).

    Italy – Producer prices in Italy started to climb at the beginning of August, intensifying at the beginning of November and breaking the €5 barrier at €5.75/kg at the end of November. This is a 70% year-on-year increase.
    Graph 2 shows how the monthly prices of extra virgin oil behaved in recent crop years.

    Greece – Prices in Greece remained stable from mid-August until the beginning of November but, as in other markets, started to climb in recent weeks to come in at €3.46/kg at the end of November 2016, which is a 21% year-on-year increase.

    Tunisia – The prices in Tunisia had remained stable over the last few weeks, but then started to climb up to €3.68/kg at the end of November, which is a 12% increase compared to the same period the previous year.

    Refined olive oil: The prices of refined olive oil in Spain and Italy generally follow the same trend as the price of extra virgin olive oil. In Spain, they came in at €3.25/kg, which was a 10% increase on the same period the previous year. However, while prices for virgin oils in Italy rose in recent weeks, refined olive oil remained stable, coming in at €3.21/kg at the end of November, whereby there is no year-on-year change.

    No price data are available for this product category in Greece. At the end of November 2016 the price of refined oil (€3.25/kg) and extra virgin oil (€3.37/kg) differed by €0.12/kg.

    In Italy, the difference in price between the two categories is wider than in Spain at €2.54/kg (Graph 3).

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    Source: International Olive Council MARKET NEWSLETTER No 110 – November 2016

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    Graph 1 tracks the weekly movements in prices paid to producers for extra virgin olive oil in the top three European producing countries and Tunisia, while Graph 3 shows the weekly changes in producer prices for refined olive oil in the main three EU producers. The monthly price... 
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  • World Trade in Olive Oil and Table Olives – 2015/16

    OLIVE OIL As can be seen in the table below, at the close of the 2015/16 crop year (October 2015 – September 2016) imports of olive oil and olive pomace oil in the eight markets that appear in the table below presented a year-on-year increase of 18% in Australia, 12% in China, 8% in Canada, 7% in the United States and 4% in Russia, whereas they fell in Brazil (-25%) and Japan (-8%).

    In the EU1, the 11-month figures for the current crop year (October 2015–August 2016) showed a 6% drop in intra-EU acquisitions and a 56% drop in extra-EU imports compared to the previous crop year.
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    2. TABLE OLIVES – 2015/16

    At the close of the 2015/16 crop year (October 2015–September 2016) imports in table olives in the six markets that appear in the table below presented a year-on-year increase of 9% in Australia, 3% in Canada and 1% in the United States. Imports however decreased by 1% in Brazil and 3% in Russia.

    EU2 data for the first eleven months of the 2015/16 crop year (October 2015 – August 2016) present a year-on-year increase in intra-EU acquisitions of 3% and extra-EU imports of 3%.
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    Source: International Olive Council MARKET NEWSLETTER No 110 – November 2016

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    OLIVE OIL As can be seen in the table below, at the close of the 2015/16 crop year (October 2015 – September 2016) imports of olive oil and olive pomace oil in the eight markets that appear in the table below presented a year-on-year increase of 18% in Australia, 12% in China,... 
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  • World olive oil balances for the 2015/16 and 2016/17 crop years

    The 2015/16 crop year opened with 277 000 t of olive oil held in world stocks. World production is assessed at 3 159 500 t, up by 29% compared to 2014/15 (+ 701 500 t). The figure for the aggregate olive oil production of the IOC member countries stands at 2 964 500 t, equal to 94% of the world total.

    EU olive oil production is assessed at 2 322 000 t, up by 62% year-on-year. The individual figures show Spain in first place with 1 401 600 t, followed by Italy with 474 600 t, Greece with 320 000 t, Portugal breaking the 100 000 t barrier with 109 100 t, Cyprus with 6 000 t, Croatia with 5 500 t and Slovenia with 500 t. Overall output in the rest of IOC Members fell by 23%.

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    The leader of the group is Turkey with 143 000 t, followed by Tunisia (140 000 t), Morocco (130 000 t), Algeria (83 500 t at a constant increase), Jordan (29 500 t), Egypt (25 000 t), Lebanon (23 000 t), Argentina (19 000 t), Libya (18 000 t), Israel (15 000 t), Albania (10 500 t) and Iran (5 000 t). Production volumes in the remaining Members are on a smaller scale. Chart I shows the trend in world production, broken down by three producer groups: EU/IOC Members, other IOC Members and non-IOC Members.

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    The 2015/16 crop year opened with 277 000 t of olive oil held in world stocks. World production is assessed at 3 159 500 t, up by 29% compared to 2014/15 (+ 701 500 t). The figure for the aggregate olive oil production of the IOC member countries stands at 2 964 500 t, equal... 
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