• The 2nd Gourmet Olive & Delicacies Exhibition in Greece

    The 2nd Gourmet Olive & Delicacies Exhibition which took place in Thessaloniki, Greece on May 5, 6 and 7 came to a successful end, confirming for the second consecutive year that Gourmet is an exclusive exhibition.

    Over three hundred fine foods and natural personal care products of seventy two artisan Greek producers were showcased in a three-day festive Gourmet exhibition. Extra virgin olive oils, olives, honey, jams, chutneys, spreads, sauces, cheese, spoon sweets, chocolates, herbs, nuts, cookies, handmade pasta, spirits, oils, soaps and many more natural personal care products, aromatic plant syrups, olive oil and balsamic pearls, premium mushroom products, all from dynamic businesses earn a place in the Greek specialty food basket for the world-wide consumer.

    International buyers, local wholesalers, restaurant owners, delis, hotel professionals and the public had the opportunity to discuss with the producers at length learning about their products and their history, tasting and enjoying traditional and innovative foods.  Commercial visitors participated in a series of select interactive activities, in order to further master the special characteristics and uses of each type of product exhibited. Master Classes, presentations and tastings especially designed for business audiences and food journalists, included Products which travel, Macedonian Land, New Applications, Locally-sourced Production, and Vegetarian Diet. A seminar on making soaps and cosmetics with edible materials attracted the attention of the public. Thehe Mentoring Corner, where professional personal advice to exhibitors and buyers alike were offered to all interested parties was a great success. Finally, all visitors were eligible to sign up for a session at the Olive Bar professional tastings, or the Chef Shows where famous professionals demonstrated new and exciting recipes.

    The 2nd Gourmet Olive & Delicacies Exhibition attracted the media and a great number of journalists from Northern Greece as well as Athens covered the event in person.

    For more information please visit: www.gourmetoliveexhibition.com

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    The 2nd Gourmet Olive & Delicacies Exhibition which took place in Thessaloniki, Greece on May 5, 6 and 7 came to a successful end, confirming for the second consecutive year that Gourmet is an exclusive exhibition. Over three hundred fine foods and natural personal care... 
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  • Latest provisional data from the AICA on olive oil price evolution

    Based on the latest provisional data from the Food Information and Control Agency (AICA), we wanted to gather the opinion of several professionals, who have analyzed the evolution during this campaign of a unique market situation.

    The provisional data published by the AICA, facilitated by the Asociación Agraria de Jóvenes Agricultores (Asaja) of Jaén, detail that Spain has produced in the first five months of the campaign 1,230,000 tons, whereas in the specific case of Andalusia the accumulated figure is of 1,006,000 tons. The data regarding market outlets is high, with 136,500 tons in February, the second best monthly output so far this year and the second best outlet in the last five seasons.

    Meanwhile, total stocks at the end of February amounted up to 987,300 tons, which means 25,000 tons more than the previous month and 99,100 tons less than the previous season.

    Historic year?
    The CEO of Luque Ecológico, Juan Manuel Luque, believes that this year can go down in history as showing the largest figure for Spanish sales of olive oil, since to the high prices we can add a crop that, although being lower than what some operators expectated, it is among the best ten in History.

    For Juan Manuel Luque, “we can agree that prices are too high, that we are going to lose market share, that bottlers lose money… but the reality, which is very stubborn, shows us that every month there are more kilos of oil and the price is higher and higher.” According to him, “we have the perfect storm heading the olive oil sector and only Spanish producers have the capacity to rise or lower the oil prices worldwide. At this moment it is our responsibility to maintain high but stable price levels. The only thing we know for sure is that the sooner the prices increase, the sooner they will decrease in the same campaign,” he said, while pointing out that “we could choose to continue supplying the market on a continuous basis or to keep the oil and wait for the ridge of the wave hoping that the wave does not fall on us.”
    In his opinion, “large groups -which are the ones with the large quantities of oil- are going to have the responsibility of continuing to supply the market and not let the price soar to levels that we could regret.”

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    Based on the latest provisional data from the Food Information and Control Agency (AICA), we wanted to gather the opinion of several professionals, who have analyzed the evolution during this campaign of a unique market situation. The provisional data published by the AICA,... 
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  • Jordan ratifies its accession to the International Olive Council

    The Office of the United Nations in New York, the depositary of the International Agreement on Olive Oil and Table Olives, 2015, has just informed the Executive Secretariat of the International Olive Council that the Hashemite Kingdom of Jordan ratified said Agreement on 19 April 2017.

    Jordan, which signed the Agreement on 22 December 2016, is an important olive producing country. According to the data provided by its Ministry of Agriculture, approximately 80 000 Jordanian families are employed in the national olive sector. Olive trees occupy close to 72% of the total surface area given over to fruit trees and 36% of Jordan’s arable land. As an integral part of daily life and customs in Jordanian society, a considerable heritage has grown up around olive growing, being one of the country’s most important and oldest crops. Some 15 – 20% of the 17 million olive trees in Jordan were planted in Roman times and are thought to be up to 2 000 years old.

    At 19 April 2017, 13 countries had signed the International Agreement on Olive Oil and Table Olives, 2015, (Algeria, Argentina, Israel, the European Union, Jordan, Lebanon, Libya, Montenegro, Morocco, I.R. of Iran, Tunisia, Turkey and Uruguay). Four of these have notified their provisional application of the Agreement (Algeria, the European Union, Libya and Morocco). Three countries have ratified, accepted or approved it, or have acceded to it definitively (Jordan, Palestine and Tunisia).

    source International Olive Council

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    The Office of the United Nations in New York, the depositary of the International Agreement on Olive Oil and Table Olives, 2015, has just informed the Executive Secretariat of the International Olive Council that the Hashemite Kingdom of Jordan ratified said Agreement on 19 April... 
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  • The results of the EVOOLEUM - World’s TOP100 Extra Virgin Olive Oils Awards

    EVOOLEUM. World’s TOP 100 Extra Virgin Olive Oils is an international competition for the quality of extra virgin olive oils, which will select the 100 best EVOOs in the World. Thus, a group of expert tasters renowned worldwide will be in charge of conducting the valuation of the organoleptic quality of the juices presented, where there will be every season the exclusive TOP100 of the best extra virgins of the world, and the best on their different categories and geographic areas.

    The results of the EVOOLEUM Awards were unveiled yesterday at the World Olive Oil Exhibition (WOOE), which was held for two days at the fairgrounds of Ifema in Madrid.

    Organizers of the contest- presented the EVOOLEUM World’s TOP100 Extra Virgin Olive Oils Guide and unveiled the names of 100 brands of EVOO from 16 countries that the jury has considered the best in the world (above 80 points).

    In the second edition of the contest, held on March 10 and 11 in Cordoba, a total of 22 internationally prestigious expert tasters from eight countries valued the more than 300 samples submitted to the competition. EVOOs from Spain, Italy, Portugal, Greece, France, Croatia, Slovenia, Turkey, Israel, Morocco, Chile, Jordan, Saudi Arabia, Germany, South Africa and Tunisia have competed in this second edition to form the ranking of the world’s TOP100 EVOOs that will be included in the EVOOLEUM World’s TOP100 Extra Virgin Olive Oils Guide 2017, published in English and Spanish, and of annual periodicity, that is distributed in the main contests and international fairs of the olive and gastronomic sector, as well as in gourmet and delicatessen establishments, Michelin-star restaurants, bookstores and supermarkets.

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    EVOOLEUM. World’s TOP 100 Extra Virgin Olive Oils is an international competition for the quality of extra virgin olive oils, which will select the 100 best EVOOs in the World. Thus, a group of expert tasters renowned worldwide will be in charge of conducting the valuation... 
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  • OLIVE JAPAN 2017 pleased announce the Award Winners !!

    OLIVE JAPAN International Extra Virgin Olive Oil Competition is one of the premier olive oil competitions in the world, bringing together the highest standards of integrity and professionalism in awarding medals to the best oils from around the globe.

    This is the sixth year of OLIVE JAPAN International Competition, Japan as the one of the most important market for olive oil in the world. The judges are invited from key major olive oil production countries and Japan, under recommendation by the Olive Oil Sommelier Association of Japan. (OSAJ)

    This Competition will be held as a key program in the “OLIVE JAPAN 2017” and winners will be prized at the main event of the MARCHE tradeshow, and will be carried by major papers and trade magazines. The competition is committed to educating the public about extra virgin olive oil, featuring industry experts with extensive knowledge about selection, tasting and food pairings.

    OLIVE JAPAN International Extra Virgin Olive Oil Competition and its panel of tasters invite you to participate in the sixth annual competition open to extra virgin olive oils and flavored olive oils throughout the world. In the 2016 Competition, OLIVE JAPAN had total 600 olive oil entered and 420 olive oil got awarded.

    The Competition Results was appeared on this website on April 24th, 2017.

    You can see the full list of winners here

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    OLIVE JAPAN International Extra Virgin Olive Oil Competition is one of the premier olive oil competitions in the world, bringing together the highest standards of integrity and professionalism in awarding medals to the best oils from around the globe. This is the sixth year of... 
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  • The Portuguese Olive Oil Sector

    At the invitation of the Casa do Azeite, the Portuguese Olive Oil Association and the Portuguese authorities, the 49th meeting of the Advisory Committee will take place in Lisbon (Portugal) on 18 May 2017. Portugal is a founding Member of the IOC, since February 1956, and the first Agreement establishing the International Olive Council in 1959 at the initiative of a group of countries (Belgium, Spain, Greece, Israel, Italy, Libya, Morocco, Portugal, the United Kingdom and Tunisia).

    Map 1 – Distribution of the olive production areas in Portugal

    It has participated actively in all the international agreements on olive oil and table olives, as well as in the working groups set up to monitor the activities of the Organisation. On 1 January 1986, it joined the European Union and currently holds the status of a European Member State. The olive growing area in Portugal is of 352 000 ha, of which 23% is irrigated while the rest is rain-fed. The largest olive tree domains are found in the Alentejo region, which accounts for 50% of the total olive growing area, followed by Tras-os-Montes (22%), Centro (18%); Ribatejo (7.7 %) and Algarve( 2.3%). Close to 97.5% of the total surface area is used to grow olives for olive oil, while the rest is used for table olives. Six per cent of the olive growing area is used for organic olive farming.

    The main olive varieties are the Galega Vulgar, which is the most common variety in Portugal, and the Cobrançosa, which is indigenous to the Tras-os-Montes region, even though it is found throughout the country. The Carrasquenha variety is mainly cultivated in the area of Alentejo, together with the Cordovil de Serpa variety; Verdeal and Madural are two varieties grown in the Tras-os-Montes area; and Cordovil de Castelo Branco is gorwn in the Beira Interior region. The varieties Maçanilha Algarvia, Negrinha de Freixo (Tras-os-Montes ) and Conserva de Elvas are the main varieties used for table olives.

    It should be noted that since 2003/04 new areas have been planted in the Alentejo region, covering approximately 40% of the area, with varieties such as Arbequina, Arbosana, Koroneiki and Picual. Olive growing is a significant agricultural activity in Portugal, generating €95.5 million and accounting for 1.36% of the value of agricultural production. The olive sector employs 1 431 people (1.6% of the agriculture and food industry total); it has more than 495 olive mills, 12 olive oil refineries and 17 olive pomace oil extractors.


    Over the last five decades, olive growing in Portugal has gone through various different stages. From 1950- 1998 there was a move to replace olive growing with other crops, resulting in the ageing of olive orchards and generating high production costs, which triggered a serious crisis in the olive sector. The year 1986, when Portugal became part of the European Union, marked the beginning of a period of modernisation in the sector, protecting olive orchards and providing incentives for the extension of olive growing areas. The trend, in recent years, has been one of modernization, improvement in production procedures, planting of new intensive and super-intensive olive orchards, with a more productive profile through the modernisation of the traditional olive orchard
    (rejuvenation pruning, irrigation) as well as an increase in the transformation capacity of the olive mills.

    Graph 1 shows the trends in the last five decades, achieving an average production in the last decade 2005-15 of 57970 t. It achieved a production record in the 2015/16 crop year with 209 125 t, of which 78% of the production was extra virgin olive oil (85 285 t), 17% virgin olive oil (19 095 t) and 4% lampante virgin olive oil (4745 t).

    Portuguese exports of olive oil during the 2015/16 crop year increased by 8% compared with the previous crop year, reaching a total volume of 137 145.10 t, of which 69% were intra-EU sales. As graph II indicates, the destination markets of these intra-EU sales
    are mainly Spain, Italy and France.

    The main destination of extra-EU exports is Brazil with 24% of total exports, followed by Angola (3%). In terms of product category, 81% of total exports are virgin and extra virgin olive oil, 11% olive oil and 8% olive pomace oil.
    Source: International Olive Council MARKET NEWSLETTER No 114 – March 2017

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    At the invitation of the Casa do Azeite, the Portuguese Olive Oil Association and the Portuguese authorities, the 49th meeting of the Advisory Committee will take place in Lisbon (Portugal) on 18 May 2017. Portugal is a founding Member of the IOC, since February 1956, and the... 
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  • Hurry to register for the next edition of the TerraOlivo EVOO International Contest

    The first deadline to register for the next edition of the TerraOlivo Extra Virgin Olive Oil International Contest will end on March 31st. According to the statements the organizers of the event to Mercacei, those interested in participating will have a discount before this date, while from April 1st the registration period will continue until May 31st.

    Specifically, in the case of the registration before March 31st the cost for each sample will be of 220 euros (compared to the price of 250 euros of the standard registration); while the registration will be free in the case of the design prize (being 40 euros after March 31st).

    The organization has pointed out that so far it has beaten a record of foreign samples entered (302 EVOOs without including Israeli juices). “At TerraOlivo, more than 70% of the samples come from abroad, which makes it the most international competition”, they underlined.

    The founder and organizer of TerraOlivo, Moshé A. Spak, is confident on reaching the number of samples received the previous year which amounted to 608 juices and has remarked that the contest will have six commissions made up of expert collectors from around the world.

    Among the objectives of these awards, held in June in Jerusalem, Spak highlights the promotion of the nutritional benefits of EVOO and its international market and consumption, as well as spreading the benefits of the Mediterranean Diet.

    TERRAOLIVO 2017
    Terraolivo MIOOC is the most important international Olive Oil competition in the area of the eastern Mediterranean and Asia, It is because of the number of samples growing annually and growing production areas, last edition with more than 629 samples from more than 60 production areas.
    Furthermore, it is important for the quality of its international judges, who are the best specialists in Tasting Olive Oil around the world, and key personalities in their origin countries.
    Terraolivo is one of five Key Extra Virgin Olive Oil Competitions in the world where your EVOO can not miss the participation, to try to get the Terraolivo Prestige Awards.

    We expect your Extra Virgin Olive Oil.

    TERRAOLIVO

    ENGEL 46/13
    KFAR SAVA 44444 – ISRAEL
    Persona de contacto: Moshe Spak
    Phone: (+972) 543969459
    Email: info@terraolivo.org

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    The first deadline to register for the next edition of the TerraOlivo Extra Virgin Olive Oil International Contest will end on March 31st. According to the statements the organizers of the event to Mercacei, those interested in participating will have a discount before this date,... 
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  • Olive oil prices have risen up to 20% in the past two weeks

    Olive oil prices have risen up to 20% in the past two weeks as output has fallen in the main producing countries. Suppliers such as Cargill, Field Fresh and Borges may raise it further this year, which can hit demand.

    “Olive oil production in key producing nations like Italy, Greece and Tunisia has remained low. This has led us to correct olive oil prices in retail since the past fortnight by as high as 15% to 20%,” said Rajneesh Bhasin, MD at Borges India.

    According to him, Italy and Spain contributed 96% of total import of olive oil in the country.

    Bhasin said the current retail price of pomace oil, which was cheapest in the olive oil category, has seen a 15% increase and is selling at Rs 350-375 a litre, while extra light or refined oil is up 20% at Rs 650 a litre and extra virgin oil is up 15% at Rs 750 a litre.

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    Olive oil prices have risen up to 20% in the past two weeks as output has fallen in the main producing countries. Suppliers such as Cargill, Field Fresh and Borges may raise it further this year, which can hit demand. “Olive oil production in key producing nations like... 
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  • Movements in the prices paid to producers for extra virgin olive oil

    PRODUCER PRICES – OLIVE OIL
    Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin olive oil in the top three EU producing countries and in Tunisia, while graph 3 shows the weekly changes in producer prices for refined olive oil in the three main EU producer countries.

    The monthly price movements for these categories are given in Graphs 2 and Extra virgin olive oil – Producer prices in Spain over the last few weeks continued increasing steadily to reach €3.85/kg at the end of February 2017, which was a 19% increase compared to the same period the previous year. If we compare this price with the maximum price in the third week of August 2015 (€4.23/kg), it presents a 9% decrease (Graph 1).

    Italy – Producer prices in Italy began rising in mid-August and this trend remains unchecked. They broke the €5 barrier in the first week of November, coming in at €6.07/kg at the end of February 2017, which is a 67% year-on-year increase.

    Graph 2 shows the movements in monthly prices for the extra virgin olive oil category in recent campaigns.

    Greece – The prices in Greece from mid-August to the end of October remained stable but, as in other markets, they levelled off in November and have remained stable over the last few months at €3.46/kg, which is a 15% increase compared to the same period the previous year.

    Tunisia – Prices in Tunisia, following some weeks of relative stability, increased as of the third week of January, breaking the €4 barrier and coming in at €4.08/kg at the end of February 2017 for a 17% year-on-year increase.

    Refined olive oil: The producer prices for refined olive oil in Spain and Italy generally follow the same trend as the prices for extra virgin olive oil. The price in Spain at the end of February 2017 stands at €3.73/kg, up by 25% compared to the previous year. In Italy it came in at €3.84/kg, which was a 22% year-on-year increase. No price data are available for this product category in Greece.

    At the end of February 2017, the price difference in Spain between refined olive oil (€3.85/kg) and extra virgin oil (€3.73/kg) was of €0.12/kg. In Italy the price difference between the two categories was greater at €2.23/kg (Graph 3).

    Source: International Olive Council MARKET NEWSLETTER No 113 – February 2017

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    PRODUCER PRICES – OLIVE OIL Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin olive oil in the top three EU producing countries and in Tunisia, while graph 3 shows the weekly changes in producer prices for refined olive oil in the three main... 
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  • World trade in olive oil and table olives 2016/17 crop year

    OLIVE OIL- OPENING OF 2016/17 WITH A SHARP RISE IN IMPORTS
    Sales of olive oil and olive pomace oil open the 2016/17 crop year on a sharp upturn in certain markets. In the first three months (October–December 2016) the eight markets that appear in the table below present an increase of 74% in Australia, 51% in Brazil, 42% in China, 24% in Canada; 15% in Japan; and 1% in the United States, compared to the same period the previous year. At the time of publishing this Newsletter, figures for Russia are only available up to December 2016, presenting a 14% year-on-year increase.

    As regards EU1 trade in the first two months of the current crop year (October–November 2016), intra-EU acquisitions increased by 19% and extra-EU imports fell by 36% compared to the same period the previous year.

    TABLE OLIVES– 2016/17 CROP YEAR OPENING
    Trade in table olives in the first four months of 2016/172 (September–December 2016) in the five markets that appear in the table below show a year-on-year increase of 21% in Brazil; 11% in Australia, while there was no change in import levels in the United States. However, imports in Canada fell by 5%.

    In the first three months of the 2016/17 crop year (September–November 2016) EU data3 shows a 3% decrease in intra-EU acquisitions and a 6% increase in extra-EU imports compared to the same period the previous year.

    Source: International Olive Council MARKET NEWSLETTER No 113 – February 2017

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    OLIVE OIL- OPENING OF 2016/17 WITH A SHARP RISE IN IMPORTS Sales of olive oil and olive pomace oil open the 2016/17 crop year on a sharp upturn in certain markets. In the first three months (October–December 2016) the eight markets that appear in the table below present an... 
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  • Olive oil and olive pomace oil imports in China (+42% in the first months of 2016/17)

    Olive oil and olive pomace oil imports in China increased by 12% over the last crop year. As Graph I indicates, the olive oil market in China has grown steadily over the period 2001/02 – 2011/12), reaching a peak of 46 000 t in 2011/12.

    However, it then fell by 6% and 15% in 2012/13 and 2013/14, compared to the respective previous crop years. General stability was maintained in 2014/15 compared to the previous years, rallying to end the 2015/16 crop year with a 12% increase. Over the first 3 months of the current year (2016/17), imports of olive oil have undergone a strong increase of 42% (Graph II). Graph II tracks monthly imports and also shows the largest import volumes in the first months of the campaign (November, December and January), with a marked decrease in February.

    As regards the origin of olive oil imports to China, in the 2015/16 crop year, 96% of the total came from countries in the European Union, with Spain in the lead with 81% of the total, followed by Italy with 13% and Greece with 2%. The remaining 4% come from Australia, Tunisia,
    Morocco, Turkey and Portugal.

    As regards import volumes per product category, 77% of total imports come under the code 15.09.10 (virgin olive oils), followed by 14% under the code 15.10.00 (olive pomace oils) and 9% under code 15.09.90 (olive oils). Graph II – China – Monthly import trends of olive oil 2014/15–2016/17(t)

    Source: International Olive Council MARKET NEWSLETTER No 113 – February 2017

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    Olive oil and olive pomace oil imports in China increased by 12% over the last crop year. As Graph I indicates, the olive oil market in China has grown steadily over the period 2001/02 – 2011/12), reaching a peak of 46 000 t in 2011/12. However, it then fell by 6% and 15% in... 
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  • 3

    There could be another worldwide olive oil crisis looming

    Heavy rains and the olive fly have decimated Southern Europe’s crop of olives, dropping the region’s output of olive oil and pushing prices through the roof.

    A worldwide olive oil shortage may be looming, but this time nobody will have to weather long lines at the gas station. They’ll just have to pay more for olive oil. Bad weather and a pesky insect have all but decimated this year’s olive crop in Southern Europe, which produces more than 70 percent of the world’s olive oil and generated $2.2 billion in 2013.

    Italy alone produces about 442,000 tons (401,000 tonnes) of olive oil annually. But the Italian olive harvest recently took a beating when early rains knocked the buds off the trees, decreasing its yield. Next came an infestation of Bactrocera oleae, more commonly referred to as the olive fly. The destructive insect devastated Italy’s crop from the inside out. Italian oil producers are expected to produce only 290,000 tons of oil this year, far below 2016’s 470,000 tons (426,000 tonnes).

    “It’s really bad,” Borri says. “These Italian companies are going to lose a lot of revenue this year. There is not enough production. The price for extra virgin olive oil is crazy; a 13 to 14 percent increase. The price changes every day.”

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    Heavy rains and the olive fly have decimated Southern Europe’s crop of olives, dropping the region’s output of olive oil and pushing prices through the roof. A worldwide olive oil shortage may be looming, but this time nobody will have to weather long lines at the... 
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  • Bad harvests in Europe and fake olive oil raise the question, are you getting the real deal?

    Olive oil is a staple ingredient in many Mediterranean dishes, yet the source for the highest quality olive oil these days may be thousands of miles from Europe and the Middle East.

    The countries best known for olive oil — Italy, Spain and Greece — have had bad harvests this year from unruly weather, Bloomberg recently reported, and the prices for olive oil have jumped in response. Meanwhile, California has been steadily increasing its olive oil manufacturing, and implemented strict standards for the oil. “More and more people are aware of the high standards we have and embracing locally produced products,” said Patricia Darragh, executive director of the California Olive Oil Council based in Berkeley, a trade association with a seal certification for local farmers.

    More domestic players are joining the U.S. olive oil production business, which has seen a 9.2% increase in revenue over the past five years, and demand and revenue are expected to continue to rise through 2021, though at a slower pace, according to research firm IBISWorld. California alone makes up more than 99% of U.S. olive oil production, according to the California Olive Oil Council.

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    Olive oil is a staple ingredient in many Mediterranean dishes, yet the source for the highest quality olive oil these days may be thousands of miles from Europe and the Middle East. The countries best known for olive oil — Italy, Spain and Greece — have had bad harvests this... 
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  • Olive Oil Prices are going through the roof

    Hoarding oil of a new kind after terrible harvests in Italy, Spain and Greece. Now erratic weather in Spain and Italy, the world’s biggest producers, is rippling through global olive oil markets, and it’s about to get worse. Prices for extra virgin olive oil in Italy have soared almost one-third since October to €5.75 ($6.15) a kilogram, while Spanish costs jumped about 10%, according to the International Olive Council in Madrid. The forecasters at Mintec Ltd. in England see room for even further gains.

    Nowhere is the surge felt more than Britain. Thanks to the Brexit-induced collapse of the pound, olive oil is the most expensive it’s been in at least seven years. Celebrity chef Jamie Oliver is closing six of his Italian restaurants around the country after the currency’s crash drove up costs.

    “Olive oil is expensive and very much in the hands of nature,” said Oliver. “The really good stuff is worth every penny. You pretty much charge the oil per tablespoon, like you would foie gras or caviar.”

    Chef Ben Tish, who runs Salt Yard, a Spanish and Italian tapas restaurant in central London, says he normally buys 100 liters of olive oil per week to drizzle over charcoal grilled flat breads,whip into alioli, and pour into a polenta cake batter. His price rose 13% to £26 ($32.70) for five liters, from £23 over the past three months.

    Prices have become more volatile because of erratic weather in the past few years, and global production is set to drop about 8% this season, according to Bourne End, England-based Mintec.

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    Hoarding oil of a new kind after terrible harvests in Italy, Spain and Greece. Now erratic weather in Spain and Italy, the world’s biggest producers, is rippling through global olive oil markets, and it’s about to get worse. Prices for extra virgin olive oil in Italy... 
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  • Movements in the prices paid to producers for extra virgin oil

    Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin oil in the three top EU producing countries and in 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 given in Graphs 2 & 4.

    Extra virgin olive oil
    – Producer prices in Spain over the last few weeks increased steadily to reach €3.64/kg at the end of January 2017, which was an 10% increase compared to the same period the previous year. If we compare this price with the maximum price in the third week of August 2015 (€4.23/kg), it presents a 14% decrease (Graph 1).

    Italy – Producer prices in Italy began rising in mid-August, speeding up in the first week of November, when they broke the €5 barrier, and coming in at €5.90/kg at the end of January 2017, for a 70% year-on-year increase. Graph 2 shows the trend in monthly prices for the extra virgin olive oil category in recent campaigns.

    Greece – The prices in Greece from mid-August to the end of October remained stable but, as in other markets, they then increased at the end of January 2017 to reach €3.46/kg at the end of January 2017, which is a 17% increase compared to the same period the previous year.

    Tunisia – Prices in Tunisia, following some weeks of relative stability, increase as of the third week of January, coming in at €3.88/kg at the end of January 2017 for a 18% year-on-year increase.

    Refined olive oil: The producer prices for refined olive oil in Spain and Italy generally follow the same trend as the prices for extra virgin olive oil. In period the previous year and in Italy they on-year increase. No price data are available for this product in Greece.

    At the end of January 2017, the price (€3.64/kg) was of €0.10/kg. In Italy the price difference between the two categories was greater at 3.

    Spain, they came in at €3.54/kg, which was a 1 hey came in at €3.62/kg, at the end of January 2017 difference in Spain between refined olive oil, 11% increase on the same
    2017, which was a 15% year refined (€3.54/kg) and extra virgin oil€2.28/kg (Graph3)

    Source: International Olive Council MARKET NEWSLETTER No 112 – January 2017

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    Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin oil in the three top EU producing countries and in 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... 
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  • Trends in global consumption of table olives

    Research on table olives has shown that the consumption of this product can strengthen consumers’ natural immune systems. Table olives could be the main fermented probiotic vegetable product sold in the future. The latest data provided by researchers from the PROBIOLIVES Project shows that some of the lactic acid bacteria (LAB) generated in the fermentation of table olives have better results than other forms of bacteria that have been recognised as probiotic microorganisms and that are currently used in many milk products.
    From a nutritional perspective, a normal daily intake of olives, which would be of 25–28 g (approximately seven olives), has an energetic value of 37 Kcal. Those calories mainly come from the olives’ fat contents, 82% of which is monosaturated – the same healthy fat as is found in olive oil. The regular consumption of olives also helps provide the daily recommended fibre intake; they are a source of oleic acid and they provide carbohydrates and protein.

    Olives also contain minerals such as sodium, iron, calcium and magnesium, which are particularly important for those who practice sports given their action on muscle contractions and nerve impulses. One of the main nutrients in table olives are
    polyphenols and provitamins A and E, the antioxidant properties of which act against oxidative processes that occur in the practice of sport, affecting both performance during exercise and during the recovery period.

    As part of the activities provided for in the International Agreement and its standardisation mandate, the IOC is responsible for drawing up and revising trade standards. In the case of the trade standard applying to table olives, it lays down definitions and provisions relating to the different commercial categories of table olives. Its work also includes revising the Codex Alimentarius standard for this product, with a view to regulating the quality criteria in international trade.


    TRENDS IN GLOBAL CONSUMPTION OF TABLE OLIVES
    The global consumption of table olives in recent years has multiplied by 2.7, increasing by 182.0% over the period 1990/91–2016/17. Graph 1 illustrates this trend, where the largest increase in consumption is seen in the main IOC member producers. Production in some of these countries has increased markedly, as a result of consumption. Egypt is
    one such case, and which has gone from consuming 11 000 t in 1990/91 to 400 000 t in 2016/17. In this same period Algeria went from consuming 14 000 to 244 000 t and Turkey from 110 000 to 350 000 t.

    The other countries have also seen increases, although these have been proportionally lower. Graph 2 shows the annual consumption of table olives per inhabitant in IOC member countries in 2015, with Albania in the lead with a consumption of 10.7kg/ inhabitant/ year.

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    Research on table olives has shown that the consumption of this product can strengthen consumers’ natural immune systems. Table olives could be the main fermented probiotic vegetable product sold in the future. The latest data provided by researchers from the PROBIOLIVES Project... 
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  • Sales of olive oil & olive pomace oil open 2016/17 crop year

    Sales of olive oil and olive pomace oil open the 2016/17 crop year on an upturn. In the first two months (October – November 2016) the eight markets that appear in the table below present an increase of 98.6% in China; 65% in Australia; 42% in Canada; 17% in Japan; 16% in Brazil and 5% in the United States, compared to the same period in the previous campaign. At the time of publishing this Newsletter, figures for Russia were only available for the month of October, when a 20 % year-on-year increase was recorded.

    As regards EU1 trade in the first month of the current crop year (October 2016), intra-EU acquisitions increased by 24% and extra-EU imports fell by 56% compared to the same month the previous year.

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    Sales of olive oil and olive pomace oil open the 2016/17 crop year on an upturn. In the first two months (October – November 2016) the eight markets that appear in the table below present an increase of 98.6% in China; 65% in Australia; 42% in Canada; 17% in Japan; 16% in Brazil... 
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