News & Articles

  • New Zealand’s Extra Virgin Olive Oil Awards

    Winners in New Zealand’s most prestigious competition for olive oil were announced last night at a formal dinner held at Parliament in Wellington and hosted by MP Paul Foster-Bell.

    Robinsons Bay Olives from Akaroa took out the 2016 Best in Show as well as Best in Class in the Commercial Medium Blends Class at the New Zealand Extra Virgin Olive Awards, run by Olives New Zealand, the national organisation for olive oil growers.

    The Old N’Olive Grove Partnership from Wairarapa won the Best in Boutique Category for growers who produce less than 250 litres of certified extra virgin olive oil, as well as Best in Class in the Boutique Intense Single Varietal Class with their Rockbottom Grove Picual.

    Best Flavoured Oil was won By Juno Olives, for the second year running, this year with their Juno Blood Orange Olive Oil.

    Medals were spread across New Zealand’s growing regions with 55 going to Wairarapa, 16 to Kapiti, 12 to Canterbury, 11 to Hawke’s Bay, 9 to Nelson, 8 each to Auckland and Northland, 4 each to Waiheke Island and Bay of Plenty and 1 to Central Otago. This equated to 17 Gold Medals, 62 Silver Medals and 49 Bronze Medals, a total of 128 medals.

    The judging panel of six trained and experienced international and New Zealand olive oil tasters praised both of the top winning oils. They said “Robinsons Bay RB2 is a delightfully fruity oil, well balanced on the nose and palate. A highly complex yet harmonious oil. Rockbottom Grove Picual was also fresh and fruity and well balanced. ”

    Robinsons Bay Olives is owned by Chris and Annette Moore. It is a medium sized grove of approximately 1,000 trees established in 1994. This is the 4th occasion in 5 years that Robinsons Bay has won the supreme award, an outstanding result. They have been consistent medal winners at other previous Awards.

    The Head Judge, Reni Hildenbrand from South Africa commented on the quality of the oils entered in New Zealand’s top olive oil awards. She said “I have been involved in the assessment of olive oils at international competitions this year, as well as the national competition in South Africa. The oils entered in the New Zealand Extra Virgin Olive Oil Awards are some of the best Extra Virgin Olive Oils I have tasted this season.”

    As a condition of entry all entrants must have been formally assessed as Extra Virgin Olive Oil and carry the OliveMark. Consumers can thus be assured that New Zealand olive oil displaying the red OliveMark has met the strict standards for Olives New Zealand Certification; it is certified as extra virgin, is packaged and labelled appropriately and an authentic New Zealand product. A further mark of excellence is a medal from the Olives New Zealand Awards.

    For a full list of results see http://www.olivesnz.org.nz/awards/
    source

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    Winners in New Zealand’s most prestigious competition for olive oil were announced last night at a formal dinner held at Parliament in Wellington and hosted by MP Paul Foster-Bell. Robinsons Bay Olives from Akaroa took out the 2016 Best in Show as well as Best in Class in the... 
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  • Doctors say common ingredient can make a big difference in the toilet

    Health experts say they believe a common pantry item could be answer for anyone who struggles to have a bowel movement every day.

    It turns out a tablespoon of olive oil could be all that is needed to get things moving again and create a healthy bowel routine.

    While the benefits of olive oil have been hailed for years, its help in this area was largely unknown.

    Due the processed foods in our diets these days, many people say the find it difficult to go to the toilet regularly.

    This can be especially dangerous as we age. There have been links between between constipation and colon cancer in the past with doctors saying blocked bowels can lead to all sorts of other heath issues, too.

    So how can olive oil help? Doctors say a tablespoon every morning on an empty stomach will get things moving again and help regulate your bowels.

    They warn against taking anymore than this as it can lead to diarrhea, but say it is a good option for anyone needing a little push in this area.

    If you’re not keen on downing straight olive oil, experts recommend increasing your water intake and upping the fibre in your diet through fruits and vegetables.

    source

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    Health experts say they believe a common pantry item could be answer for anyone who struggles to have a bowel movement every day. It turns out a tablespoon of olive oil could be all that is needed to get things moving again and create a healthy bowel routine. While the benefits... 
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  • Italian Olive Oil Union Anticipates Poor 2016 Harvest

    Forecasts for Italian olive oil production this year are pessimistic, according to Unaprol-Consorzio Olivicolo Italiano, the National Union of Olive Oil Producers, which represents the sector.

    According to the group, the 2016 harvest is going to decrease by 37% (298,000 tonnes), if compared with last year.

    The southern part of the country, a traditional producer of olive oil, will suffer more than the North. In Apulia, a decrease of 40% is estimated, because many olive trees are being damaged by bacterium Xylella fastidiosa.

    A worse harvest is predicted in Sicily (-42%) and Campania (-49%), however Veneto will grow 30% more than 2015.

    Italy is the second biggest producer of olive oil in the world, after Spain.

    European Supermarket Magazine

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    Forecasts for Italian olive oil production this year are pessimistic, according to Unaprol-Consorzio Olivicolo Italiano, the National Union of Olive Oil Producers, which represents the sector. According to the group, the 2016 harvest is going to decrease by 37% (298,000 tonnes),... 
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  • Greek chef wins world first prize for olive oil recipes

    A Greek chef has been awarded the first prize for 2017 by the world renowned Italian guide for olive oil “FLOS OLEI”.

    The Greek restaurant of “Kapsaliana Village Hotel”, where winner Vasilis Leonidou is head chef, also won the award for best restaurant by “FLOS OLEI”.

    The guide, which presents the top producers from over 40 countries worldwide, recognised Leonidou’s contribution to the promotion of the “culture” of extra virgin olive oil. Owner of “Kapsaliana Village Hotel” Myron Toupogiannis stated the award was a special accolade for the hotel and the chef as it recognises their efforts in promoting the olive “culture” throughout the world.

    Leonidou said he used different olive oil for each recipe he created. “We use 45 types of olive oils of the highest quality”, Leonidou said.

    The award ceremony is scheduled to take place in Rome in December.

    source

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    A Greek chef has been awarded the first prize for 2017 by the world renowned Italian guide for olive oil “FLOS OLEI”. The Greek restaurant of “Kapsaliana Village Hotel”, where winner Vasilis Leonidou is head chef, also won the award for best restaurant by “FLOS OLEI”. The... 
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  • The shift to mechanization has spurred growth in California olive oil production

    The amount of land devoted to olives grown for oil will increase by about 3,500 acres a year through 2020, according to estimates from the California Olive Oil Council.

    The shift to mechanization has spurred major growth in California olive oil production, but the trend has been slow to take root in the table olive sector, which continues to struggle with declining acreage.

    Super-high-density olive varieties, which allow the fruit to be harvested by machine, now produce most of the state’s olive oil and make up the vast majority of new plantings.

    Not only have those plantings reduced labor costs, but growers also have the ability to produce very high-quality olive oil on a large scale, said Gregg Kelley, president and CEO of Chico-based California Olive Ranch, the nation’s largest olive oil producer.

    “That’s what has enabled us to compete,” he said. “Without mechanical harvesting, we just don’t have a significant industry in California.”

    The company, which started harvest this week, produces between two-thirds and three-quarters of the nation’s olive oil, nearly all of which comes from California. Still, foreign oils continue to dominate U.S. grocery store shelves, with California olive oil accounting for just 5.8 percent of what U.S. consumers buy, according to the California Olive Oil Council.

    That may not sound like much, but the number is significant, said the council’s Executive Director Patricia Darragh, noting that the U.S. is now the second-largest market for olive oil consumption behind the European Union. Just a few years ago, California’s share of that market was a mere 1 percent.

    “California has made remarkable inroads into this market,” she said.

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    The amount of land devoted to olives grown for oil will increase by about 3,500 acres a year through 2020, according to estimates from the California Olive Oil Council. The shift to mechanization has spurred major growth in California olive oil production, but the trend has been... 
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  • Weekly movements in prices paid to producers for extra virgin olive oil

    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 twogrades of oil are tracked in Graphs 2 and 4.

    Extra virgin olive oil: Producer prices in Spain rose slightly in the last few weeks to reach €3.18/kg in the last week of September, which is a 21% year-on-year decrease. If we compare this price with the minimum price of the third week of May 2014 (€1.96/kg) it presents a 62% increase and a 25% decrease in comparison with the maximum (€4.23/kg) (Graph 1).
    gr1Italy – Producer prices in Italy started to climb in mid-August, to reach €3.92/kg at the end of September 2016, which is a 26% year-on-year decrease. Graph 2 shows how the monthly prices of extra virgin olive oil behaved in recent crop years.

    Greece – Prices in Greece have remained stable since mid-August, coming in at €2.95/kg at the end of September 2016, which was a 12% year-on-year decrease.

    Tunisia – The prices in Tunisia fell in August 2016 before rising in the first three weeks of September, letting off somewhat in the second to last week to settle at €3.23/kg at the end of September 2016, which is a 13% decrease compared to the previous year.

    gr2gr3
    gr4Refined olive oil: The prices of refined olive oil in Spain and Italy follow the same trend as the price of extra virgin olive oil. In Spain, following a sharp drop, there was a slight upturn in the third week of January 2016. This levelled off but after the first week in July prices began to rise again, slowing down   in the last week, to settle at €3.03/kg at the end of September.

    This is a 15% decrease compared with the same period the previous year. Prices in Italy followed the same trend as in Spain and the prices at the end of September 2016 settled at €3.13/kg, which was a 20% year-on-year decrease. No price data are available for this product category in Greece.

    At the end of September 2016, the price of refined olive oil (€3.03/kg) and extra virgin olive oil (€3.18/kg) differed by €0.15/kg in Spain. In Italy, the difference in price between the two categories is wider than in Spain at €0.79/kg (Graph 3).

    Source: International Olive Council MARKET NEWSLETTER No 108 – September 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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  • Olive oil performance in 2015/16 and olive oil and table olive estimates for 2016/17

    The meeting of the IOC Statistics Working Group was held on 3 October. The figures reported here for 2015/16 take into account the data provided by Members but are as yet provisional since the crop year has just ended. The resultant data indicates a tonnage of 3152000t for world production (28% or 694 000 t more than in 2014/15), 2963500t for consumption (+4%), and 802000t and 791000t respectively for imports and exports.

    IOC member countries produce a total of 2957000t, which represents 94% of the world total for this crop year, while EU countries as a whole accounted for 2315500t (+61%), lead by Spain with 1397900t (+66%), followed by Italy 470000t (+112%), Greece with 320000t (+7%) and Portugal with 109 000 t (+79%). Note should be taken of the increase in production in Portugal, set to achieve its highest production figures in the last 25 years.

    In the other IOC member countries, production decreased overall by 23%, with a total of 642 500 t. Turkey is in the lead with 143000t (- 11%), followed by Tunisia with 140000t (-59%), Morocco with 130 000 t (+8%), and Algeria with 83500t (+20%). The output of the rest of the IOC membership adds up to 146000t.

    Consumption in the IOC member countries totalled 2159000t, which is an 8% increase in comparison with 2014/2015, while in non-member countries it was of approximately 804000t, decreasing by 5% season-on-season.

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    The meeting of the IOC Statistics Working Group was held on 3 October. The figures reported here for 2015/16 take into account the data provided by Members but are as yet provisional since the crop year has just ended. The resultant data indicates a tonnage of 3152000t for world... 
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  • World Trade in Olive Oil and Table Olives - 2015/16 Crop Year

    1. OLIVE OIL
    Imports of olive oil and olive pomace oil through the first ten months of 2015/16 (October 2015 –July 2016) in the eight markets that appear in the table below show an increase of 10% in Australia, 11% in China, 2 % in the United States and 1% in Canada, compared with the same period the previous year.
    2016-10-07_iocConversely, imports are lower in Brazil (-31%), Japan (-9%) and Russia (-1%).
    Data for the EU in the first nine months of this crop year (October 2015 – June 2016) indicate that intra-EU acquisitions decreased by 8% and extra-EU imports decreased by 51% year-on-year.

    2. WORLD TRADE IN TABLE OLIVES – 2015/16 CROP YEAR
    Imports in table olives in the first ten months of the 2015/16 crop year (October 2015 – July 2016) in the six markets that appear in the table below presented an increase of 4% in Australia and 3% in Canada compared with the same period the previous year. However, imports decreased by 9% in Brazil, by 4% in the United States and by 3% in Russia.

    2016-10-07_ioc_2EU data for the first nine months of 2015/16 (October 2015 – June 2016) present a 2% year-on year increase in intra-EU acquisitions and of 3% in extra-EU acquisitions.

    Source: International Olive Council MARKET NEWSLETTER No 108 – September 2016

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    1. OLIVE OIL Imports of olive oil and olive pomace oil through the first ten months of 2015/16 (October 2015 –July 2016) in the eight markets that appear in the table below show an increase of 10% in Australia, 11% in China, 2 % in the United States and 1% in Canada, compared... 
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  • Italian olive grove stands in way of European energy security

    MELENDUGNO, Italy In the name of European energy security, a private guard wearing a navy blue uniform, aviator sunglasses and a baseball cap walks around a grove of olive trees in southern Italy.

    The 231 trees, surrounded by dry-stone walls on a dusty plain near the Adriatic coast, stand in the way of a $45 billion pipeline designed to bring gas from central Asia and help wean the European Union off its dependence on Russian energy.

    Local authorities want the pipeline re-routed away from the prized grove, which includes trees thought to be more than 400 years old, but developers have Rome’s approval to proceed, on condition they are transplanted while pipes are laid and buried.

    Wary of protests, the pipeline consortium, which includes Britain’s BP (BP.L), Azeri state energy company SOCAR and Italian gas company Snam (SRG.MI), has hired 24-hour security.

    In reality, work on the Italian side of the Trans Adriatic Pipeline (TAP) cannot proceed without local consent, threatening to delay a project that is meant within four years to carry the equivalent of 10 percent of Europe’s Russian energy imports.

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    MELENDUGNO, Italy In the name of European energy security, a private guard wearing a navy blue uniform, aviator sunglasses and a baseball cap walks around a grove of olive trees in southern Italy. The 231 trees, surrounded by dry-stone walls on a dusty plain near the Adriatic... 
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  • Italian Olive Oil Production Down by 38%

    Italian olive oil production will drop by 38% in the season 2016/2017, to just 298 million kg, close to the historic low, according to Italian farrmers organization Coldiretti, based on ISMEA/Unaprol data.

    As the second largest olive oil producer, Italy has more than 250 million olive trees, on over one million hectares of land cultivated.

    It also has the greatest number of extra virgin olive oils with denomination (44) in Europe and the widest heritage of olive tree varieties in the world (395).

    Olive oil production is also expected to fall in Greece (-20% to 240 million kg) and Tunisia (-21% to 110 million kg).

    On a positive note, production levels will be on the same level with last year for market leader Spain (1.4 billion kg) and Turkey (+33% to 190 million kg).

    Overall, global olive oil production is expected to drop by 9%, to 2.785 billion kg, with consequent effects on prices.

    source:European Supermarket Magazine

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    Italian olive oil production will drop by 38% in the season 2016/2017, to just 298 million kg, close to the historic low, according to Italian farrmers organization Coldiretti, based on ISMEA/Unaprol data. As the second largest olive oil producer, Italy has more than 250 million... 
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  • OOCC Approves Service Mark

    As the Olive Oil Commission of California begins its third olive oil season, this program which exists to ensure that California olive oil is trusted and valued, is making some changes that will allow more producers to become part of the program and be recognized as members of this important new organization.

    Voluntary Program Offered for Smaller Producers

    Under the Commission law which established the OOCC, olive oil handlers who produce 5,000 gallons or more per year are required to participate in the OOCC’s sampling and testing program. Producers with less than 5,000 gallons are technically exempt from the mandatory requirements of the OOCC. At a meeting of the OOCC in early September, the Board voted to allow handlers with less than 5,000 gallons to participate in the OOCC program if they wish.

    The ultimate goal of the OOCC is to give consumers confidence in California olive oil by verifying the grade of oils produced through a government sampling program. In recent months, the OOCC has heard from smaller producers who want the same thing. In response, the OOCC wanted to find a way to allow any producer – no matter what size — to participate in this government sampling program.

    Currently, members of the OOCC pay an assessment of 14 cents per gallon which covers the government sampling and testing program. As an interim step, the Board voted to charge a fee not to exceed $700 for exempt handlers who voluntarily want to have their oils sampled by the government and tested for the eight quality parameters, plus additional tests for purity as required under the OOCC.

    It should be noted that all producers with 5,000 gallons or more are required to test all lots of oils themselves, using a certified laboratory. Smaller producers are also required to do their own testing. And although they are not required to test their own oils for all eight quality parameters, their oils must meet all quality standards of the OOCC.

    A working group has been formed to develop a fee structure going forward and a system that will make it more economical for smaller producers to participate. The OOCC believes the more producers who are involved in its program the better, because consistent, measurable quality in California olive oil benefits everyone.

    Beginning with the 2016/17 harvest season, the OOCC will allow producers to utilize a service mark on packaging or in marketing materials indicating their involvement in this mandatory program. Many producers had been asking for a way to communicate with their customers about their involvement in this new program which seeks to assure consumers about the quality of California olive oil. The Board agreed to allow producers to use a new mark developed for this purpose. The mark (shown above) indicates the producer is a member of the OOCC and therefore subject to its provisions.

    Producers interested in using the mark, but complete a Service Mark Agreement which verifies they are an OOCC member-in-good-standing. Once this agreement is approved, the OOCC can provide artwork files of the service mark for use on bottles, labels, websites and other marketing materials. Along with the service mark, the following approved language can be included on packaging:

    The producer of this product is subject to the mandatory California Department of Food & Agriculture standard for olive oil.

    The OOCC views this as a positive step forward in its efforts to communicate about the benefits of the OOCC program. Producers interested in using the service mark can download the agreement here.

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    As the Olive Oil Commission of California begins its third olive oil season, this program which exists to ensure that California olive oil is trusted and valued, is making some changes that will allow more producers to become part of the program and be recognized as members of... 
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  • EU Oilve Oil Exports increased according to the EC latest report

    European Union exports of olive oil between August 2015 and July 2016, were valued at 2,480 million euros, representing an increase over 11.3% regarding the same period last year, according to the latest report on agrifood trade of the Commission European (EC).

    Specifically, during last July foreign European sales of the product reached a value of 226 million euros against the 217 million euros reached in July 2015.

    As for imports of olive oil between August 2015 and July 2016, it were valued at 410 million euros, representing a decrease by 29.9% regarding the last same period; while in July this product imports were valued at 19 million euros, against the data of 72 million euros reached a year earlier, in July.

    In general, for this period of 12 months, EU food exports were valued at more than 128,000 million euros, representing an increase of 0.7% compared with the same period last year.

    The monthly value for Community agricultural exports in July reached 10,500 million euros, a figure that represents a moderate decline compared to the results of July 2015 (11.191 million euros).

    Data collected by the EU executive also highlights exports to Asian destinations (India, China, Philippines and Vietnam) and Northeast Africa (Sudan, Ethiopia and Libya), which increased compared to the data of July 2015. However, destinations that dropped the most were those reaching Hong Kong, Russia and Algeria.

    EC

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    European Union exports of olive oil between August 2015 and July 2016, were valued at 2,480 million euros, representing an increase over 11.3% regarding the same period last year, according to the latest report on agrifood trade of the Commission European (EC). Specifically,... 
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  • Olive oil fraud awareness

    On the streets of Midtown Manhattan, almost everyone we spoke to said they’re actually aware that much of the food they put in their bodies, may not be what it’s advertised to be.

    Registered dietician Lindsay Rosen was pleasantly surprised to hear that so many New Yorkers know about the fraudulent foods that are prevalent worldwide. She recommends that you do your homework, ask questions in your market, and become educated about the food you buy and eat.

    And what are the foods that are most fraudulent? According to a new book on food fraud by Larry Olmsted called “Real Food, Fake Food,” fish, coffee, beef, and olive oil are just some of many foods that are often mislabeled or replaced by a cheaper or completely different substance before being sold or bottled.

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    On the streets of Midtown Manhattan, almost everyone we spoke to said they’re actually aware that much of the food they put in their bodies, may not be what it’s advertised to be. Registered dietician Lindsay Rosen was pleasantly surprised to hear that so many New... 
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  • India's olive oil imports are expected to rise 20% in 2016-17

    India’s olive oil imports are expected to rise 20 per cent to 13,500 tonnes this fiscal on the back of rising demand in metros and tier II cities, a top Indian Olive Association official said.

    The country had imported 11,106 tonnes of olive oils, 65 per cent of which is sourced from Spain, in 2015-16 fiscal.

    “Imports have been encouraging so far and we are hopeful the total imports during the year would rise by 20 per cent to 13,500 tonnes,” Indian Olive Association (IOA) President Rajneesh Bhasin told PTI.

    The country has imported 3,062 tonnes of olive oils in the April-June period of the 2016-17 fiscal, which is 19 per cent higher than 2,583 tonnes in the year-ago period, he said, a similar growth is expected in the coming quarters.

    During the last year, Bhasin said that the olive oil imports fell because of high global prices in view of poor crop in Spain, as well as hike in import duty of edible oils and weak Rupee against Euro, he said.

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    India’s olive oil imports are expected to rise 20 per cent to 13,500 tonnes this fiscal on the back of rising demand in metros and tier II cities, a top Indian Olive Association official said. The country had imported 11,106 tonnes of olive oils, 65 per cent of which is... 
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  • EC publishes the International Agreement on Olive Oil and Table Olives

    The European Comission (EC) has published, on its website, the text of the International Agreement on Olive Oil and Table Olives which was adopted by consensus at the United Nations Conference for Trade and Development (UNCTAD) in Geneva last year.

    This new text takes into account developments in the world olive and olive oil industry. It reasserts the role of the International Olive Council (IOC) as a world centre for documentation and information dissemination about the olive and its products and as a forum for industry stakeholders. It also places emphasis on standardising national and international legislation on the physical, chemical and organoleptic characteristics of olive oils, olive pomace oils and table olives in order to prevent obstacles to trade.

    Compared with preceding Agreements, the new Agreement is simpler, more rational and more condensed. It is aimed at facilitating the participation of importer countries and features a modified system for calculating the distribution of participation shares that is meant to encourage consumer countries to join. New decision making arrangements have also been put in place and make a distinction between decisions that must be taken exclusively by consensus and decisions that may be taken by a vote if consensus is not reached. In the second case, decision-making by voting will require a larger or smaller majority depending on the subject matter. The budget structure of the IOC has also been simplified.

    The new text will enter into force on 1 January 2017 and will remain in force until 31 December 2026. It will be open for signature by Governments and Contracting Parties through 2016. The Secretariat General of the United Nations will be the new depositary of the Agreement.

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    The European Comission (EC) has published, on its website, the text of the International Agreement on Olive Oil and Table Olives which was adopted by consensus at the United Nations Conference for Trade and Development (UNCTAD) in Geneva last year. This new text takes into account... 
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  • TOP 20 of the Olivinus World's Best EVOOs in its latest edition

    “OLIVINUS” – International Extra Virgin Oil Olive Competition in South America, Central America and the Caribbean, is the most important international competition in world’s, by number of samples submitted (about 450) and the number of countries present (17 to 21). Gives Medal, Diploma in full color and awarded AOVE report. Also it sends information to world importers. It’s who gives more points in the World Ranking EVOO after Mario Solinas.

    Seven Spanish extra virgin olive oils are included in the TOP 20 for the Olivinus World’s Best EVOOs in its latest edition, which is held annually in the city of Mendoza (Argentina). Spain, with 58 awards, has led the medal rankings of this event which has granted a total of 167 awards to olive juices from Argentina (50 awards), Portugal (18), Greece (10), Chile (9), Uruguay ( 8), Italy (6), South Africa (5), Cyprus (1) and Malta (1).

    The competition has received a total of 441 samples from 196 companies, receiving awards a 37% of the oils presented.

    Also, 88 EVOOs have obtained the prestigious Gold Medal, 55 the Prestige Gold and 21 the Gold one.

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    “OLIVINUS” – International Extra Virgin Oil Olive Competition in South America, Central America and the Caribbean, is the most important international competition in world’s, by number of samples submitted (about 450) and the number of countries present... 
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  • 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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